flynas Becomes First Saudi Airline and First LCC in Middle East to Join World Tourism Organization

flynas' membership in the UNWTO further strengthens the airline's position as one of the top five LCCs in the world. (SPA)
flynas' membership in the UNWTO further strengthens the airline's position as one of the top five LCCs in the world. (SPA)
TT
20

flynas Becomes First Saudi Airline and First LCC in Middle East to Join World Tourism Organization

flynas' membership in the UNWTO further strengthens the airline's position as one of the top five LCCs in the world. (SPA)
flynas' membership in the UNWTO further strengthens the airline's position as one of the top five LCCs in the world. (SPA)

flynas, the Saudi national air carrier, has joined the United Nations World Tourism Organization (UNWTO) as an affiliate member, becoming the first Saudi airline in the Middle East to join the organization.

This boosts the leading LCC role to contribute to sustainable global tourism, which aligns with flynas' sustainability strategy and the Kingdom's vision and commitment to shaping the future of the global travel sector.

Affiliate members are an integral part of UNWTO membership, bringing together over 500 companies, educational and research institutions and NGOs to engage in dialogue, share information, and take action with the objective of contributing to sustainable global tourism in which knowledge and innovation are harnessed to promote responsible and competitive tourism, in line with the Global Code of Ethics for Tourism and the UN principles and objectives.

flynas' membership in the UNWTO further strengthens the airline's position as one of the top five LCCs in the world, adding value in visibility, networking, participation, knowledge, support and cooperation with Tier 1 organizations in the field of tourism.

flynas CEO and Managing Director Bander Almohanna said: "flynas' joining the organization as the first Saudi airline and the first low-cost carrier in the Middle East will reinforce its position as the 4th best low-cost airline in the world."

He pointed out that members' goals coincide with flynas' sustainability plan, which focuses on adopting initiatives with a sustainable impact on the environment, society and the economy, in addition to "its efficient role in shaping the future of global travel and its pioneering role in building a sustainable tourism sector".

"flynas places sustainability at the core of its operations, in line with the Kingdom's goals to reach zero neutrality in greenhouse gas emissions by 2060," Almohanna added.

Flynas's membership in UNWTO comes as Saudi Arabia was selected to host the 26th UNWTO General Assembly in 2025, the first time the Kingdom will host the general assembly of a UN organization, underscoring the country's growing prominence in global tourism.

Last August, flynas joined the United Nations Global Compact, becoming the first airline in Saudi Arabia and the first low-cost airline in the Middle East to join the world's largest corporate sustainability initiative.

flynas' outstanding achievements have been recognized, and it received numerous international awards, including Skytrax International Award for Best Low-cost Airline in the Middle East in 2023, for the sixth time in a row and the 4th Best LCC worldwide. It is the highest worldwide award in the aviation sector since its launch in 1999.

Moreover, flynas won the Best Low-cost Airline Award in the Middle East from the World Travel Awards in 2023, for the ninth consecutive time since 2015.



Gold Steady as Market Eyes Middle East Conflict, Fed Decision

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
TT
20

Gold Steady as Market Eyes Middle East Conflict, Fed Decision

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo

Gold prices were steady on Tuesday as investors assessed the conflict between Israel and Iran and looked ahead to this week's US Federal Reserve's policy meeting.

Spot gold was steady at $3,383.01 an ounce, as of 0851 GMT US gold futures fell 0.5% to $3,401.30.

Israel and Iran exchanged attacks for a fifth consecutive day on Tuesday, Reuters reported.

US President Donald Trump urged an evacuation of Iran's capital Tehran and cut short his trip to the G7 summit in Canada. A separate report said he had asked for his administration's National Security Council to be prepared in the situation room.

"Markets are waiting for the latest signals whether hostilities between Israel and Iran would escalate or will remain contained," said Han Tan, chief market analyst at Exinity Group.

"Gold still retains its bias for lurching upwards on signs of a worsening Middle East conflict, given the precious metal's stature as the preferred safe haven of late."

Zero-yield bullion is considered a hedge against geopolitical and economic uncertainty and tends to thrive in a low-interest environment.

The US central bank rate decision and Chair Jerome Powell's remarks are due on Wednesday. Traders are currently pricing in two cuts by the end of the year.

Meanwhile, Citi lowered its short-term and long-term price targets for gold, projecting prices could drop below $3,000 per ounce by late 2025 or early 2026, driven by declining investment demand and an improving global growth outlook, it said in a note on Monday.

Elsewhere, spot silver was up 0.3% at $36.45 per ounce, platinum was unchanged at $1,246.59, while palladium fell 0.4% to $1,025.44.