Saudi Arabia Enjoys Fastest Growing Airport Technology Sector in Middle East

SITA’s pavilion at the annual meeting of the General Assembly of the Airports Council International in Riyadh. (Turky Al-Agili)
SITA’s pavilion at the annual meeting of the General Assembly of the Airports Council International in Riyadh. (Turky Al-Agili)
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Saudi Arabia Enjoys Fastest Growing Airport Technology Sector in Middle East

SITA’s pavilion at the annual meeting of the General Assembly of the Airports Council International in Riyadh. (Turky Al-Agili)
SITA’s pavilion at the annual meeting of the General Assembly of the Airports Council International in Riyadh. (Turky Al-Agili)

A recent study, “Investment trends in travel technology” by Amadeus, showed that airports are witnessing a rapid digital transformation, as the pace of travel industry transformation is set to accelerate with an average 14% increase in technology investment planned for 2024.

In recent years, passengers have seen tremendous changes in travel services, beginning with quick online purchase of tickets to electronic boarding passes and other areas.

Digital transformation in Saudi Arabia is one of the most important pillars of Vision 2030, as the Kingdom is considered the fastest growing in the field of airport technology in the Middle East region, according to Jihad Boueri, the Regional Vice President for Airport Affairs for the Middle East, India and Africa region at SITA.

Speaking to Asharq Al-Awsat on the sidelines of the first annual meeting in the Middle East of the General Assembly of the Airports Council International (ACI) in Riyadh, Boueiri pointed to a global technical revolution in the airport sector, but added that its implementation in the Kingdom was faster and stronger as a result of a solid budget and the development of new airports.

Asked about the challenges facing the sector, he said the need to train human resources and discover and develop young talents could delay the process of adopting modern technologies.

Sustainability also represents another challenge as the aviation sector is responsible for 4 percent of carbon emissions, he remarked, while highlighting projects such as reducing engine operation time, saving fuel to reduce thermal emissions, and choosing environmentally friendly devices at airports

Commenting on the future outlook for the travel industry, he stressed that airport technology was leaning towards allowing travelers to pass through free zones based on the biological fingerprint that collects all individuals’ information in a data cloud.

Travelers will also be able to check in luggage from home through airline companies, he said, noting that the Kingdom is taking great steps towards applying these advanced technologies.

In April, Saudia Airlines launched a trial version of the “Virtual Assistant with Artificial Intelligence Technology” platform, in cooperation with Accenture, the global management consulting and professional services company. The platform enables individuals to plan travel and complete all procedures with the aim of redefining digital travel standards.



Qatar National Bank Completes Unsecured $2 bn Inaugural Asian Syndicated Loan

Qatar National Bank Group (QNA) 
Qatar National Bank Group (QNA) 
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Qatar National Bank Completes Unsecured $2 bn Inaugural Asian Syndicated Loan

Qatar National Bank Group (QNA) 
Qatar National Bank Group (QNA) 

Qatar National Bank (QNB) Group, a Qatari public company, announced on Sunday the successful closing of a $2 billion unsecured syndicated term loan facility, focused on Asian investors.

QNB Group Chief Executive Officer Abdulla Mubarak Al Khalifa said, “This facility has attracted strong interest from major Asian banks, enabling us to further diversify our investor base.”

He noted that the issuance was oversubscribed at competitive all-in pricing, which, despite challenging global market conditions, reaffirms the bank’s reputation as a high-quality issuer.

“We view this transaction as a testament to our successful strategy of strengthening our presence as a leading bank in MEASEA while fostering meaningful, long-term relationships,” Al Khalifa said.

QNA Group said the $2 billion facility with a maturity of 5 years is the largest ever Asian pure play syndication by a bank from the GCC has achieved tightest pricing.

It added that this successful transaction involved a largely new investor base and underlines QNB’s strong credentials and is a part of QNB’ strategy to further broaden its relationships worldwide.