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Red Sea Int’l Airport in Saudi Launches 8 Weekly Flights

Group CEO of Red Sea Global John Pagano. (Asharq Al-Awsat)
Group CEO of Red Sea Global John Pagano. (Asharq Al-Awsat)
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Red Sea Int’l Airport in Saudi Launches 8 Weekly Flights

Group CEO of Red Sea Global John Pagano. (Asharq Al-Awsat)
Group CEO of Red Sea Global John Pagano. (Asharq Al-Awsat)

The Red Sea International Airport in Saudi Arabia’s western region, which opened last year, is now buzzing with eight weekly flights connecting Riyadh, Jeddah, and Dubai.

The airport is a key part of Saudi Arabia’s national transformation plan, “Vision 2030,” led by Prince Mohammed bin Salman, Crown Prince and Prime Minister.

It is meant to serve projects in the region developed by Red Sea Global (RSG).

RSG is one of the world’s most visionary developers, wholly owned by the Public Investment Fund (PIF) of Saudi Arabia.

The company is spearheading a new model of development, putting people and planet first and leveraging the most innovative concepts and technologies to deliver projects that actively enhance the well-being of customers, communities and environments.

Its portfolio includes two world-leading destinations announced by Crown Prince Mohammad, The Red Sea and Amaala.

Collectively, these responsible and regenerative tourism destinations will aim to enhance Saudi Arabia’s luxury tourism and sustainability offering, going above and beyond to not only protect the natural environment, but to enhance it for future generations to come.

A cornerstone of Vision 2030, RSG will help transform the nation, creating significant economic opportunities for the people of Saudi Arabia and actively enhancing the Kingdom’s rich environmental and cultural heritage.

By 2030, the airport is expected to serve a million passengers annually, with a peak capacity of 900 passengers per hour for both domestic and international flights.

Domestic flights started in September 2023, followed by international flights from Dubai International Airport on April 18, 2024.

John Pagano, Group CEO of RSG, disclosed to Asharq Al-Awsat at the sidelines of the “GREAT FUTURES” conference in Riyadh that the company has already opened three tourist resorts.

He revealed plans for two more resorts to open later this year.

Pagano explained that RSG has made significant investments and struck diverse deals.

According to the group CEO, around 17 billion riyals ($4.5 billion) in funding and partnerships for infrastructure projects worth 20 billion riyals ($5.3 billion) have been secured.

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Washington Urges Israel to Extend Cooperation with Palestinian Banks

A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
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Washington Urges Israel to Extend Cooperation with Palestinian Banks

A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)

The United States on Thursday called on Israel to extend its cooperation with Palestinian banks for another year, to avoid blocking vital transactions in the occupied West Bank.

"I am glad that Israel has allowed its banks to continue cooperating with Palestinian banks, but I remain convinced that a one-year extension of the waiver to facilitate this cooperation is needed," US Treasury Secretary Janet Yellen said Thursday, on the sidelines of a meeting of G20 finance ministers in Rio de Janeiro.

In May, Israeli Finance Minister Bezalel Smotrich threatened to cut off a vital banking channel between Israel and the West Bank in response to three European countries recognizing the State of Palestine.

On June 30, however, Smotrich extended a waiver that allows cooperation between Israel's banking system and Palestinian banks in the occupied West Bank for four months, according to Israeli media, according to AFP.

The Times of Israel newspaper reported that the decision on the waiver was made at a cabinet meeting in a "move that saw Israel legalize several West Bank settlement outposts."

The waiver was due to expire at the end of June, and the extension permitted Israeli banks to process payments for salaries and services to the Palestinian Authority in shekels, averting a blow to a Palestinian economy already devastated by the war in Gaza.

The Israeli threat raised serious concerns in the United States, which said at the time it feared "a humanitarian crisis" if banking ties were cut.

According to Washington, these banking channels are key to nearly $8 billion of imports from Israel to the West Bank, including electricity, water, fuel and food.