The reported move for Saudi Arabia's Public Investment Fund , which oversees $925 billion in assets, would track with its goals to pour investment into tourism and transport assets.
Founded in 1945, Saudia has a fleet of 144 aircraft — 93 Airbus planes and 51 made by Boeing — and flies to more than 100 destinations, according to its website. According to the initial report, the acquisition would see the PIF take over the airline's ownership from the government to increase its efficiency and ability to make profit. It could then either be privatized or merged with Riyadh Air, a separate airline owned by the PIF and launched in March 2023 to compete with other more established Gulf airlines.Sign up for NBC San Diego newsletters.
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