Future Aviation Forum Surpasses Expectations, Unveils 102 Agreements Worth SAR75 Billion On Its Second Day

The second day of the Future Aviation Forum 2024, held under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, saw significant developments. Organized by the General Authority of Civil Aviation (GACA) in Riyadh from May 20-22, the forum witnessed the signing of 102 memoranda of understanding (MoUs), agreements, and deals, with a total value exceeding SAR75 billion.

The agreements covered various sectors of civil aviation, including aviation services, aircraft purchase orders, cargo and logistics services, advanced air mobility, human resources development, information technology, maintenance, repair, and overhaul. The forum continued its proceedings with over 30 ministers, 77 leaders of civil aviation authorities, CEOs of airlines worldwide, and 7,000 aviation industry experts and leaders from more than 120 countries.

Key topics discussed included human capabilities, the future of the sector, collaboration opportunities, civil aviation organization networks, sustainability, innovation, technology, and business opportunities within the sector. The GACA launched the first edition of the Kingdom's aviation sector report during the forum. This report highlighted the civil aviation sector's contribution to the Kingdom's economy, amounting to $53 billion and providing 958,000 jobs across various regions.

The GACA also hosted the first aviation investment exhibition aimed at facilitating investment in the Saudi aviation sector. The advanced air mobility pavilion was among the exhibition's prominent features. "The Future Aviation Forum has achieved success by bringing together aviation industry leaders and experts from around the world to discuss the future of civil aviation and develop innovative solutions to its key challenges," said Minister of Transport and Logistic Services and Chairman of GACA Board of Directors, Saleh bin Nasser Al-Jasser.

Al-Jasser emphasized that the Kingdom is committed to providing more opportunities for the private sector, creating thousands of jobs for Saudi citizens, and continuing to attract investments to develop the Kingdom's aviation capabilities. GACA President Abdulaziz bin Abdullah Al-Duailej noted that the outcomes of the forum have exceeded expectations. "Over the first and second days, agreements, deals, and partnerships were established that will work towards enhancing global aviation connectivity," said Al-Duailej.

On the second day of the forum, GACA signed numerous agreements for air transport services with countries such as Kiribati, Grenada, Malawi, Romania, Belize, Sao Tome and Principe, Lithuania, El Salvador, Albania, and Uzbekistan. These agreements added to those signed on the first day with countries like Mozambique, Eswatini, Cambodia, and Brunei Darussalam.

The second day's events commenced with a speech by Advisor at the Royal Court and Supervisor General of KSrelief Dr. Abdullah bin Abdulaziz Al Rabeeah. In his speech, Dr. Al Rabeeah highlighted civil aviation's crucial role in providing humanitarian aid during natural disasters and conflicts. He called for establishing a "Global Humanitarian Aviation Council" to bring together the aviation community, humanitarian organizations, and governments to facilitate and protect humanitarian aid transported by air routes.

Upcoming Events

The third edition of the Future Aviation Forum comes at a busy time for Saudi Arabia's civil aviation sector. Alongside this forum, Riyadh is hosting several prominent aviation events. These include WAGA 2024 of Airports Council International (ACI), ICAO’s Facilitation 2024 Global Summit, and other regional meetings such as the Seventh Meeting of Directors General of Civil Aviation-Middle East Region.

Additionally, Riyadh is hosting the fourth edition of the Saudi Airports Awards Ceremony and the first Security Forum for ACAO. The Future Aviation Forum concludes on Wednesday with its third day. It will continue presenting investment empowerment opportunities in Saudi Arabia's aviation sector valued at $100 billion. Sessions will delve into discussions on growth, investment opportunities in airports and air connectivity.

With inputs from SPA