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GACA Reports Significant Growth in Air Travel in Saudi Arabia

GACA Reports Significant Growth in Air Travel in Saudi Arabia
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GACA Reports Significant Growth in Air Travel in Saudi Arabia

GACA Reports Significant Growth in Air Travel in Saudi Arabia

Saudi Arabia's General Authority of Civil Aviation (GACA) released air-traffic statistics showing significant growth in the number of passengers and flights in the Kingdom during the first half of 2024 compared to the same period in 2023.

According to the figures, there was a 17% increase in the number of passengers over the past six months, reaching around 62 million, compared to 53 million during the same period last year.

The number of flights also reached approximately 446,000, marking a 12% increase compared to 399,000 flights during the same period last year.

The airfreight volume in the first six months of 2024 witnessed a 41% increase, reaching 606,000 tons compared to 430,000 in the same period of 2023.

During the first half of this year, GACA launched several development projects, including the development and expansion of Prince Mohammad bin Abdulaziz International Airport, the inauguration of the development and expansion of Al-Ahsa International Airport, the launch of the new additional international departure terminal at Taif International Airport, and the introduction of the self-driving air taxi experience for the first time during the Hajj season.

Furthermore, the authority granted the first operating permit for building cleaning using drones, which illustrates its commitment to enabling safe and innovative advanced air mobility solutions. It also launched a knowledge-testing center for aviation personnel and the first phase of electronic gates at King Khalid International Airport in Riyadh.

GACA won two gold awards for Best Customer Service and Best Public Service Center in Europe, the Middle East, and Africa (EMEA) region, the Consumer Protection Association award for excellence in protecting passengers' rights, and the certificate in the quality management system for monitoring flight safety and environmental sustainability.

The aviation sector saw several achievements in the past six months, including 16 Saudi airports obtaining the Airports Council International (ACI) Airport Service Quality (ASQ) accreditation for 2024.

Saudi airports continued their progress in ranking among the top 50 airports worldwide, as announced in the evaluation results of the international air transport rating organization Skytrax. Prince Mohammad bin Abdulaziz International Airport in Madinah won the first-place award as the best regional airport in the Middle East during the Skytrax World Airport Awards ceremony held in Frankfurt, Germany.

The King Abdulaziz International Airport in Jeddah achieved the highest ratings on the Airports Council International list for 2023. The King Fahd International Airport in Dammam won three of the Saudi Airports Awards for 2023, including the award for the best airport in the category 5-15 million passengers, the award for the best customs inspection area, and the award for the best services for people with disabilities.

SAUDIA also received recognition, winning awards for being the most advanced airline in the world and having the best economy-class catering for 2024 in the Skytrax global ranking.

According to Skytrax, Flynas was crowned the fourth-best low-cost airline in the world for the second consecutive year and the first in the Middle East for the seventh consecutive year, the most important global benchmark for measuring airline performance.

All these achievements are part of the initiatives and programs launched by GACA, aiming to contribute to the development of the air transport industry locally, regionally, and internationally, in line with the National Strategy for the Civil Aviation Sector.

The strategy aims to make the aviation sector in the Kingdom the first in the Middle East by reaching 330 million passengers, increasing air freight capacity to 4.5 million tons, and raising air connectivity to reach 250 destinations to and from Saudi airports by 2030.

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Urgent Financial Tasks Await Lebanon’s Emerging Government

Lebanese President Joseph Aoun stands between Speaker of Parliament Nabih Berri and caretaker Prime Minister Najib Mikati (dpa)
Lebanese President Joseph Aoun stands between Speaker of Parliament Nabih Berri and caretaker Prime Minister Najib Mikati (dpa)
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Urgent Financial Tasks Await Lebanon’s Emerging Government

Lebanese President Joseph Aoun stands between Speaker of Parliament Nabih Berri and caretaker Prime Minister Najib Mikati (dpa)
Lebanese President Joseph Aoun stands between Speaker of Parliament Nabih Berri and caretaker Prime Minister Najib Mikati (dpa)

A broad internal consensus, encompassing both political and economic dimensions, is taking shape to adopt the principles outlined in the presidential inauguration address as the foundation of the new government’s program and ministerial statement. This approach aims to sustain Lebanon’s immediate and strong positive momentum, which is reinforced by widespread support on both Arab and international levels.

Economic bodies and professional unions representing business sectors have openly expressed their relief and full support for the strategic directions set by President Joseph Aoun following his election. However, they have made it clear that maintaining this positive momentum depends on the formation of a reform-oriented rescue government, composed of competent, experienced, and honest ministers. This government must also collaborate constructively with the president.

According to a senior financial official, the rescue mission will be challenging due to years of governmental inaction and constitutional voids, which led to a deterioration in public sector operations and the accumulation of economic, financial, and monetary crises over the past five years. These challenges were further compounded by a devastating war, which inflicted severe human and financial losses estimated at approximately $10 billion, thereby worsening the country’s financial gap, now estimated at $72 billion.

Economic and banking circles are looking to the new government to swiftly capitalize on extensive international support by restoring trust and reestablishing financial channels between Lebanon and its regional and international partners. Key to this effort are explicit and transparent commitments to combating illegal economic activities, corruption, smuggling, money laundering, and drug trafficking. In parallel, the government must prioritize strengthening judicial independence and implementing strict controls over land, sea, and air borders.

The national consensus evident in the presidential election, according to Mohammad Choucair, head of Lebanon’s economic associations, paves the way for constructive collaboration among political factions. This collaboration is crucial for addressing challenges, rebuilding the state, and benefiting from renewed international and Arab—particularly Gulf and Saudi—interest in Lebanon. Choucair emphasized the importance of normalizing relations with Gulf nations, supporting Lebanon’s recovery, and providing resources for reconstruction efforts.

One of the urgent tasks for the new government, according to the financial official, is revisiting the draft 2024 state budget, which was previously submitted to parliament. Adjustments are necessary to address fundamental discrepancies in expenditure and revenue projections, taking into account significant changes brought about by the Israeli war.

Ibrahim Kanaan, chairman of the Parliamentary Finance Committee, described the budget as “unrealistic, if not entirely fictitious,” particularly in its revenue estimates. He pointed out that revenue increases were based on income and capital taxes, internal duties, and trade-related fees, all of which have been severely impacted by the war.

Reassuring depositors, both domestic and expatriate, who have suffered massive losses over recent years, is another pressing issue. These losses were exacerbated by the inability of successive governments to implement a comprehensive rescue plan addressing the $72 billion financial gap fairly. The situation was worsened by mismanagement in the electricity sector and the squandering of over $20 billion in central bank reserves following the onset of the financial crisis.

In response to Aoun’s commitment to a fair resolution for depositors, the Association of Banks in Lebanon welcomed his emphasis on safeguarding deposits. It also expressed its readiness to collaborate with the central bank and the government to protect depositors’ rights, citing a recent State Council ruling that prohibits any financial recovery plans from including measures that would erode depositors’ funds.

In its final session, the caretaker government addressed long-standing creditor issues by unanimously agreeing to suspend Lebanon’s right to invoke statutes of limitations on claims by foreign bondholders under New York law. This suspension, effective until March 9, 2028, aims to facilitate future negotiations.

With this decision, the caretaker government tacitly acknowledged Lebanon’s pending debt obligations, including over $10 billion in suspended interest payments on Eurobonds and approximately $30 billion in principal debt. The resolution now awaits direct negotiations under the new administration, which faces the challenge of resolving a nearly five-year-old crisis triggered by the previous government’s uncoordinated decision to halt payments on all Eurobond obligations through 2037.

Caretaker Finance Minister Youssef Khalil emphasized that despite the difficult circumstances, “Lebanon remains committed to reaching a fair and consensual resolution regarding the restructuring of Eurobond debt.”