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GACA Vice President: New Saudi Air Carrier to Be Launched Soon

Executive Vice President for Economic Policies and Logistics Services at GACA Awad Al-Sulami. (Photo: Turki Al-Agili)
Executive Vice President for Economic Policies and Logistics Services at GACA Awad Al-Sulami. (Photo: Turki Al-Agili)
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GACA Vice President: New Saudi Air Carrier to Be Launched Soon

Executive Vice President for Economic Policies and Logistics Services at GACA Awad Al-Sulami. (Photo: Turki Al-Agili)
Executive Vice President for Economic Policies and Logistics Services at GACA Awad Al-Sulami. (Photo: Turki Al-Agili)

Saudi Arabia is preparing to announce a new national air carrier in 2024 in line with the country’s goal to reach 250 global destinations by 2030.

In remarks to Asharq Al-Awsat on the sidelines of the Future Aviation Forum, Executive Vice President for Economic Policies and Logistics Services at the General Authority of Civil Aviation (GACA) Awad Al-Sulami confirmed that the modern national carrier will be announced this year, noting that studies were underway to determine the needs of the sector for additional airlines.

Held under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz, GACA is hosting the third edition of the Future Aviation Forum (FAF 2024) at the King Abdulaziz International Conference Center in Riyadh from May 20 - 22.

The event focuses on “Elevating Global Connectivity” and strives to boost aviation collaboration via global partnerships, fostering innovation, sustainable air travel, and cultural exchange.

Asked about the current increase in domestic ticket prices, Al-Sulami pointed to the implementation of economic regulations for competition and transparency in the market. This will mainly reflect on supply and demand, he underlined, adding that the introduction of new carriers will lead to competitive prices.

Executive Vice President for Aviation Safety and Environmental Sustainability at GACA Capt. Suleiman Al-Muhaimedi told Asharq Al-Awsat that Saudi Arabia has achieved record indicators in safety rates over the past 15 years.

The Kingdom is one of the signatories of the Convention on International Civil Aviation (also known as Chicago Convention), which defines international rules and recommendations regarding sector standards, he added.

GACA Executive Vice President of Quality and Customer Experience Eng. Abdulaziz Al-Dahmash pointed to a major challenge in the aviation industry, which he said was growing at a rapid pace.

He stated that the target number of travelers during the year 2030 represents three times the current figures, explaining that the Authority has developed programs to measure the traveler’s experience and ensure its flexibility and smoothness.

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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.