Saudi flag carrier to launch low-cost offshoot

State-owned Saudi Arabian Airlines plans to launch a low-cost offshoot next year under initiatives to restructure the kingdom's oil-dependent economy, official media said on Monday. Known as "Flyadeal", the low-cost carrier will begin operations from the middle of next year, Saudi Arabian Airlines chief Saleh al-Jasser said. It also did not specify whether Flyadeal would serve domestic or international routes.