Saudi Arabia has ambitions to become a global aviation hub, with plans including the construction of King Salman International Airport in Riyadh, with capacity for 120 million travellers by 2030, the launch of The Helicopter Company, and the establishment of AviLease, an aircraft leasing company created to support the growth of the country’s expanding aviation ecosystem.
The latest development in the country is that Saudi Arabia’s Public Investment Fund (PIF) has signed an agreement to invest in Saudia Technic, a subsidiary of Saudia Group. Formerly known as Saudia Aerospace Engineering Industries, Saudia Technic provides services across key aviation maintenance, repair and overhaul segments (MRO), including line, base, components and engines.
PIF and Saudia Group say they plan to transform Saudia Technic into a “national MRO champion” by investing in infrastructure, increasing efficiency and capturing market growth in Saudi Arabia over the next decade. Saudia Technic’s ambition is to become the MRO of choice for domestic airlines and global partners seeking access to the Saudi market.
The investment (the sum has not been disclosed) is intended to support the development of an approximately 1 million-square-metre ‘MRO village’ in Jeddah, including a state-of-the-art jet propulsion centre. The facility will significantly increase Saudia Technic’s hangar capacity and the number of component shops, positioning Saudia Technic to capture Saudi Arabia’s future market demand by unlocking scale and efficiency across line, base, engine, and component segments. An engine test cell that will serve next-generation widebody and narrowbody aircraft engines is also planned, to help drive Saudi Arabia’s MRO ambitions through 2030.
Raid Ismail, co-head of MENA Direct Investments at PIF, said: “PIF continues to invest in one of the world’s most dynamic and rapidly expanding sectors in an increasingly interconnected global economy. The investment in Saudia Technic is a significant milestone as we unlock capabilities, localise expertise and create a first-class, world-leading aviation sector in Saudi.”
Captain Fahd Cynndy, CEO of Saudia Technic, added: “This strategic investment by PIF underscores our commitment to becoming a leader in the aviation industry. We are excited to work alongside PIF in shaping the future of aviation in Saudi Arabia and the region. Together, we aim to enhance our capabilities, drive innovation, and become the MRO of choice for airlines and partners worldwide.”
