Saturday 22 June 2024

Top aviation event opens in Riyadh; eyes over $12bn deals

RIYADH, May 20, 2024

The third edition of Future Aviation Forum, a major industry event, kicked off today (May 20) in Saudi capital Riyadh featuring over 5,000 global aviation leaders from 120 countries, including Ministers from over 30 countries, leaders of 65 civil aviation authorities, airline chiefs, airport bosses, executives from aircraft manufacturers and the world’s largest investors.
It is the foremost platform for the global aviation sector with over 70 agreements expected to be signed and insights shared from 120 speakers in charting the future of civil aviation.
With a focus on “Elevating Global Connectivity”, the three-day event features an extensive programme as industry experts deliberate over solutions to global aviation’s most pressing challenges, while showcasing the $100 billion investment program billion worth of opportunities available in Saudi Arabia’s aviation sector that will accelerate the development of aviation globally, said the organisers.
Over 70 agreements and deals worth more than $12 billion are expected to be signed at the Forum, with major sector players scheduled to make significant announcements throughout the event,, it added.
FAF24 kicks off a monumental week for aviation regulators and other leaders, where the kingdom will also play host to several sector events including the Seventh Meeting of the Director General of Civil Aviation Middle East Region, the Middle East and North Africa Air Regional Safety and Oversight Organization (RSOO), the Saudi Airports Awards, Airport Council International’s annual general assembly, the 1st Security Forum Arab Civil Aviation Organization and more.
The Future Aviation Forum will open with a keynote speech from Saleh Al Jasser, Saudi Arabia’s Minister of Transport and Logistic Services, before Salvatore Sciacchitano, President of the International Civil Aviation Organization (ICAO) Council takes the floor for a special address.
Attendees and delegates will also hear from Luis Felipe de Oliveira, Director General and CEO of ACI World; Tony Douglas, CEO of Riyadh Air; Luc Tytgat, High Representative of the Executive Director, European Union Aviation Safety Agency (EASA), in addition to representatives of airport operators, asset managers, financial investors and major OEMs including Airbus, Boeing and Embraer.
The Day 2 of the Forum will feature an investment showcase that will present the unprecedented panoply of opportunities available in Saudi Arabia’s aviation sector amounting to over $100 billion arising from the Kingdom’s transformation under the sector strategy. 
According to the organisers, the inaugural State of Aviation report published by GACA on the eve of this year’s Forum revealed significant progress against the Saudi Aviation Strategy’s goals as the sector emerged as a powerhouse for the Kingdom’s economy, contributing $53 billion to output in 2023 and 10 per cent of Saudi Arabia’s non-oil gross value add.
The investment showcase will convene leaders of the Saudi sector from airlines, airports, service providers, lessors and investors with their international counterparts, they stated.
On the third and final day, ICAO and the Arab Civil Aviation Organization (ACAO) will host their Faciliation 2024 Global Summit and 1st Aviation Security Summit respectively.
In total, over 120 speakers will share their expert insights in plenary and panel discussions across salient and pressing issues spanning growth and investment, airports and connectivity, supply chain management and resilience, cargo and logistics, mobility and the future of flight, technology, digitalisation and safety, human capital, and sustainability, said the organisers.
The Future Aviation Forum promises to be an unparalleled gathering in shaping the future of global civil aviation, setting the stage for transformative collaboration and the exchange of ideas that will define the trajectory of aviation for years to come, they added.-TradeArabia News Service


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