Saudi's BIM Ventures Launches SKYNA Private Aviation

The Saudi Venture Studio BIM Ventures has announced the inauguration of the Riyadh-headquartered private aviation platform SKYNA.^[1]

SKYNA is a chartering platform that will give its clients the option to schedule customized trips, allowing them to select their preferred private aircraft type and select the comfort and hospitality services during the flight. Customers will be able to book flexible trip dates to suit urgent business meetings, special occasions, and other travel needs. ^[2]

The establishment of SKYNA aligns with the National Strategy of the Aviation Sector, which was launched in May 2022 by the Ministry of Transport and Logistics and the General Authority of Civil Aviation (GACA). The Saudi Aviation Strategy aims to mobilize $100 billion from the public and private sectors by 2030 to make it the leading aviation sector in the region. The strategy aims to support the transport of 330 million passengers across more than 250 destinations, as well as to transport 45 million tons of air cargo by 2030. ^[3]

In October 2023, GACA announced a policy framework that aims to boost competition, create open markets, and increase transparency in commercial relationships and pricing, to drive investment in the aviation sector, in line with the kingdom's Vision 2030. The policy aims to "level the playing field" for global operators and investors, opening up airport revenue streams, offering licenses to ground handling and air cargo services, and removing economic license requirements for charter flights for foreign carriers. The regulations will gradually be rolled out over 18 months. ^[4]

In March of last year, Saudi Arabia launched the second flag carrier of the kingdom, Riyadh Air, which is based out of the Saudi capital of Riyadh. It also invited carriers to apply for carrier licenses to operate domestic and international flights out of King Fahd International Airport in Dammam.   ^[5]