Future Aviation Forum: First Day Witnesses 47 Agreements Worth $19 Billion

The Future Aviation Forum 2024, organized by the General Authority of Civil Aviation (GACA), kicked off in Riyadh on Monday. The Saudi Press Agency reported that the first day of the prestigious event witnessed the announcement of 47 memoranda of understanding (MoUs), agreements, and deals worth $19 billion. These included aircraft purchase orders, cargo and logistics services, and aviation services.

The three-day event is being held with the participation of over 30 ministers, 77 leaders of civil aviation authorities, and CEOs of airlines worldwide. Aviation industry experts and leaders from more than 120 countries are also participating in the forum, which aims to shape the future of civil aviation. The forum covers topics including supply-chain management, resilience, human resources, growth, investment, airports, and air connectivity.

According to an SPA report, the General Authority of Civil Aviation (GACA) signed multiple aviation service agreements with Mozambique, Eswatini, Cambodia, and Brunei Darussalam. Notably, Saudia also made ground-breaking announcement during the forum. Saudia Group announced the largest aircraft deal in Saudi aviation history with Airbus, which encompasses 105 aircraft. This includes the A320neo and A321neo models, which will be distributed between Saudia and flyadeal. Meanwhile, GACA also launched the first edition of the Kingdom's aviation sector report during the forum. The GACA also issued a roadmap for general aviation, focusing on developing the business aviation and private aircraft sectors in Saudi Arabia.