Press release
RIYADH — May 06, 2024 — Bain & Company was a proud participant in the first-ever Airline Economics Growth Frontiers Conference held in Riyadh, on April 22-23. The conference, hosted by AVILEASE, a subsidiary of the Public Investment Fund, showcased opportunities within the rapidly expanding civil aviation sector in the Kingdom of Saudi Arabia.
The conference showcased a dynamic program of keynotes and panels, providing a platform for pivotal discussions led by top executives from OEMs, airlines, airports, leasing companies, and service providers. These discussions underscored the transformative strategies that are shaping the future of aviation in Saudi Arabia and beyond.
During a key session titled “Expanding Connectivity for the Kingdom of Saudi Arabia,” Akram Alami, Partner and Head of Aviation, Bain & Company Middle East discussed critical aspects of enhancing airline connectivity in the region. “As we consider the future of airline economics, the focus is on how the Kingdom can better connect its major hubs to the global aviation network. The potential for investment in this sector is significant, with unprecedented coordination required across all players to harness these opportunities fully,” Alami highlighted.
Alami further emphasized the strategic importance of the aviation sector in national growth agendas. “Investing in aviation is not just about enhancing air traffic. It’s about understanding and tapping into a once-in-a-generation wave of economic development. For investors and stakeholders, the rewards of enabling this connectivity are manifold, reflecting directly in the increased flow of capital and people through our hubs,” he explained.
The session also delved into the Kingdom's National Aviation Strategy, highlighting the collaborative efforts required to amplify the Kingdom's position as a global aviation hub. This includes significant investments in infrastructure and services, spearheaded by initiatives such as the Riyadh Airports Company's expansion plans and the Saudi Air Connectivity Program’s efforts to incentivize international airlines.
The Airline Economics Growth Frontiers Conference is set to become an annual landmark event in the aviation industry calendar, reflecting on the strategic discussions and insights provided by global experts like Alami and his peers.
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