Riyadh Air leverages Sutherland’s cutting-edge solutions to accelerate its journey towards becoming the world’s first digitally native airline.
Riyadh, Kingdom of Saudi Arabia & Rochester, N.Y. (BUSINESS WIRE/AETOSWire), September 18, 2024: Riyadh Air and Sutherland announced a partnership agreement in which Sutherland’s digital-first solutions will power the airline’s finance operations.
Sutherland altra®, a state-of-the-art, future-ready platform for finance solutions, will enable the airline to drive operational efficiencies and ensure seamless sales-to-cash management with integrated revenue accounting, accounts receivable, and comprehensive revenue assurance services.
Founded in 2023, Riyadh Air is set to become the Kingdom of Saudi Arabia’s new national carrier. By 2030, it aims to operate to over 100 domestic and global destinations.
“At Riyadh Air, we aim to be the world’s first digital native airline, and our partnership with Sutherland is a pivotal step in our mission to deliver this objective,” said Adam Boukadida, CFO of Riyadh Air. “Adopting world-class technologies, such as Sutherland altra®, to optimize our financial processes underscores our shared commitment to innovation and excellence. We have a laser focus on our digital customer offering, and this partnership with Sutherland will strongly support us with critical technological infrastructure to deliver on this promise.”
Sutherland altra®, built on open-source technology and free of legacy code, offers a microservices-based architecture that delivers deep insights into revenues and receivables, empowering airlines to make informed, timely decisions. Moreover, with the altraPRA and altraAR modules, the airline can streamline both revenue accounting and accounts receivable, making the entire process from sales to cash seamless.
“We are excited to empower Riyadh Air with the technology foundation essential for achieving its ambitious growth objectives. By leveraging Sutherland altra®, Riyadh Air will unlock new levels of digital performance, driving measurable results,” said Banwari Agarwal, CEO of Travel, Transportation, Logistics, and Hospitality at Sutherland.
“We are confident that our partnership will empower Riyadh Air to revolutionize aviation in alignment with Saudi Arabia’s Vision 2030, unlocking the potential of key sectors to drive economic diversification. As the Kingdom transforms the travel and tourism industry, contributing significantly to GDP, we are thrilled to be part of this journey. With the global travel sector projected to surpass $11 trillion in 2024 and the upcoming King Salman Airport in Riyadh set to be one of the world’s largest, Riyadh Air is poised for remarkable growth,” said Khaled Alsaleh, SVP & Managing Director, MENA at Sutherland.
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