Saudi Arabia Attracts Airlines, Opens New Routes in 2024

A Saudi budget airline Flynas Airbus A320-200 plane flies over the Red Sea resort of Sharm el-Sheikh, south of Cairo, Egypt December 15, 2018. (Reuters)
A Saudi budget airline Flynas Airbus A320-200 plane flies over the Red Sea resort of Sharm el-Sheikh, south of Cairo, Egypt December 15, 2018. (Reuters)
TT

Saudi Arabia Attracts Airlines, Opens New Routes in 2024

A Saudi budget airline Flynas Airbus A320-200 plane flies over the Red Sea resort of Sharm el-Sheikh, south of Cairo, Egypt December 15, 2018. (Reuters)
A Saudi budget airline Flynas Airbus A320-200 plane flies over the Red Sea resort of Sharm el-Sheikh, south of Cairo, Egypt December 15, 2018. (Reuters)

CEO of the Saudi Air Connectivity Program Majid Khan said the program has successfully attracted 12 new airlines, added 20 new destinations, and increased seating capacity by more than 1.5 million this year.

Speaking at the Routes Conference, underway in Bahrain from Oct. 6-8, Khan explained that the Air Connectivity Program is responsible for linking all 29 airports in Saudi Arabia. The program also serves as a central point to ensure the achievement of the Kingdom’s tourism goals, which include reaching 150 million tourists by 2030.

Khan emphasized the importance of developing sufficient direct flight capacity to Saudi Arabia to enable tourists worldwide to travel directly to the Kingdom, rather than via indirect routes.

Rashed Al-Shammari, Executive Vice President of Aviation Development at the Air Connectivity Program, told Asharq Al-Awsat that the Routes Conference brings together key aviation stakeholders in Bahrain, adding that the Saudi participation highlights the Kingdom’s tourist destinations and the program’s role in linking the National Tourism Strategy with the National Aviation Strategy.

Al-Shammari noted that the program aims to create new direct air routes and enhance existing ones to connect Saudi Arabia to more than 250 destinations worldwide.

He pointed to over 100 scheduled meetings during the event with global aviation industry leaders to negotiate new partnerships and promote Saudi Arabia’s geographic location and role in the aviation sector.

Al-Shammari further stressed that adding new flights and expanding existing routes would support the regional growth of the tourism ecosystem.

Over the three-day conference, the program is showcasing services and opportunities to strengthen Saudi Arabia’s air connectivity, targeting key international markets.

Launched in 2021, the Air Connectivity Program aims to boost tourism in Saudi Arabia by boosting air links between the Kingdom and the world.

The program acts as the executive enabler of both the National Tourism Strategy and the National Aviation Strategy. It seeks to foster collaboration and build partnerships between key players in the public and private sectors in both tourism and aviation to elevate Saudi Arabia’s position as a leading global destination.



Gulf Markets Decline Amid Escalating Geopolitical Tensions in the Region

Traders monitor screens displaying stock information on the Qatar Stock Exchange in Doha. (Reuters)
Traders monitor screens displaying stock information on the Qatar Stock Exchange in Doha. (Reuters)
TT

Gulf Markets Decline Amid Escalating Geopolitical Tensions in the Region

Traders monitor screens displaying stock information on the Qatar Stock Exchange in Doha. (Reuters)
Traders monitor screens displaying stock information on the Qatar Stock Exchange in Doha. (Reuters)

Most stock markets in the Gulf region closed lower on Sunday, amid fears that increasing geopolitical tensions could lead to a broader conflict in the region.

Israeli airstrikes shook southern Beirut on Friday night and into the early hours of Sunday, marking the heaviest bombardment of the Lebanese capital since Israel escalated its campaign against Hezbollah last month.

The Saudi index fell by 1.6%, hitting its lowest level since September 11, driven by declines in Al-Tayseer (TALCO) Group shares, which dropped 5.1%, and Al Rajhi Bank, which fell by 4.8%. Meanwhile, Aramco, the heaviest-weighted stock on the index, slipped by 0.18% to reach SAR 27.

The Qatari index also lost 0.5%, as Qatar Fuel Company shares fell by 2.3%. The Kuwaiti stock market index declined by 1%, and Bahrain’s general index fell by 0.13%.

On the other hand, some Arab markets managed to recover from the losses they incurred last week. The Egyptian stock market index rose by 1.24%, while the Casablanca index posted a slight gain of 0.09%, and the Muscat index increased by 0.16%.

Similar events in April led to a wave of selling of stocks and other high-risk assets, but markets rebounded within days as concerns over the escalation of the conflict subsided.