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Saudi Airports Handle 128 Million Passengers in 2024, Marking 15% Growth

King Khalid International Airport in Riyadh (SPA) 
King Khalid International Airport in Riyadh (SPA) 
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Saudi Airports Handle 128 Million Passengers in 2024, Marking 15% Growth

King Khalid International Airport in Riyadh (SPA) 
King Khalid International Airport in Riyadh (SPA) 

Saudi Arabia’s aviation sector recorded robust growth in 2024, as airports across the Kingdom welcomed more than 128 million passengers—a 15 percent increase compared to the previous year. The surge comes as part of Riyadh’s broader push to establish itself as a global aviation hub in the Middle East, in line with the goals of Vision 2030.

According to the 2024 Air Transport Statistics Bulletin, issued by the General Authority for Statistics (GASTAT), international passenger traffic reached 69 million, up 14 percent year-on-year, while domestic travel saw a 16 percent jump, reaching 59 million passengers.

The expansion is being driven by the National Aviation Strategy and the Air Connectivity Program, alongside efforts to privatize and modernize airport infrastructure. The Kingdom aims to connect to 250 destinations globally by 2030 via 29 airports, with a targeted annual capacity of 330 million passengers and 4.5 million tons of air freight.

The Air Connectivity Program has played a central role in these efforts, helping attract 12 new international carriers and opening more than 60 new routes through 18 newly connected cities. Infrastructure developments in 2024 included the expansion of Al-Ahsa International Airport and the opening of a new international terminal at Taif International Airport.

King Abdulaziz International Airport in Jeddah maintained its position as the busiest airport in the Kingdom, handling around 49 million passengers—an increase of 14 percent. Riyadh’s King Khalid International Airport followed with 37.6 million passengers, up 18 percent, while Dammam’s King Fahd International Airport recorded 12.8 million passengers, reflecting a 15 percent rise.

The total passenger-handling capacity of Saudi airports reached 126 million in 2024. King Abdulaziz International led with a capacity of 50 million passengers annually, operating at 98 percent utilization—an 11 percent increase from 2023. King Khalid International ranked second with a capacity of 39 million and a 96 percent usage rate.

In terms of international routes, King Abdulaziz International topped the list with 369, a 1 percent increase over the previous year. It was followed by Prince Mohammed bin Abdulaziz International Airport in Medina with 272 routes (up 5 percent), while King Khalid International saw a 6 percent decline to 165 routes. King Fahd International registered 85 international routes, down 8 percent.

On average, Saudi airports handled 189,000 international passengers and 162,000 domestic passengers per day. Domestic flights rose by 12 percent to 474,000, while international flights increased by 10 percent to 431,000.

King Abdulaziz International also led in total flight operations, with around 290,000 flights in 2024. King Khalid International followed with 274,000 flights, and King Fahd International reported 105,000.

 

 

 

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Business

Europe Can’t Afford to Miss AI Revolution, Says ECB Chief

European Central Bank President Christine Lagarde addresses a press conference following the ECB Governing Council meeting at the ECB headquarters in Frankfurt, Germany, July 23, 2026. (Reuters)
European Central Bank President Christine Lagarde addresses a press conference following the ECB Governing Council meeting at the ECB headquarters in Frankfurt, Germany, July 23, 2026. (Reuters)
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Europe Can’t Afford to Miss AI Revolution, Says ECB Chief

European Central Bank President Christine Lagarde addresses a press conference following the ECB Governing Council meeting at the ECB headquarters in Frankfurt, Germany, July 23, 2026. (Reuters)
European Central Bank President Christine Lagarde addresses a press conference following the ECB Governing Council meeting at the ECB headquarters in Frankfurt, Germany, July 23, 2026. (Reuters)

European Central Bank chief Christine Lagarde said Wednesday that the continent could not afford to miss out on the artificial intelligence revolution as the continent's growth model comes under increasing pressure.

The United States and China are seen leading the AI race, with their companies producing the most advanced large language models and rapidly building vast new data centers.

"Europe largely missed out on the first digital revolution, as the commercial gains from the spread of information and communication technologies were captured disproportionately elsewhere," Lagarde said at a World Economic Forum event in Geneva.

"We cannot afford to repeat that experience with artificial intelligence, the second digital revolution," she said.

While European companies are investing heavily in AI, barriers in the eurozone are hindering them from scaling up their operations, she said.

The "fragmentation" of EU markets means firms are not competing enough across the whole eurozone and also struggled to raise funds, particular when compared to US peers, Lagarde said.

"The result is fewer firms growing to global size and slower diffusion of new technologies across the economy."

She added that scale is particularly important for Europe to be able to compete in AI and other new technologies at a time when Europe's post-war growth model faces major challenges.

She noted that Europe had long benefitted from "three pillars" -- a rules-based global order underpinned by US security guarantees, cheap energy and expanding global trade.

"All three are weakening as the international environment changes," she said.

"These shifts suggest that Europe's post-war growth model is eroding. And it is unlikely to return to the form we once knew."

The return of US President Donald Trump to the White House, in particular, has shaken relations between the United States and Europe.

He has imposed hefty tariffs on European Union imports and questioned long-standing US commitments to the continent's security.

Business

Trump Pauses 50% Tariffs on Canadian Goods for Three Days

This aerial view shows a Capital Southern Transportation, Inc. truck passing over the Peace Bridge between Canada and the US in Fort Erie, Ontario, on August 18, 2026. (AFP)
This aerial view shows a Capital Southern Transportation, Inc. truck passing over the Peace Bridge between Canada and the US in Fort Erie, Ontario, on August 18, 2026. (AFP)
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Trump Pauses 50% Tariffs on Canadian Goods for Three Days

This aerial view shows a Capital Southern Transportation, Inc. truck passing over the Peace Bridge between Canada and the US in Fort Erie, Ontario, on August 18, 2026. (AFP)
This aerial view shows a Capital Southern Transportation, Inc. truck passing over the Peace Bridge between Canada and the US in Fort Erie, Ontario, on August 18, 2026. (AFP)

US President Donald Trump paused the planned rollout of punishing new tariffs on Canadian goods late Tuesday, as both sides indicated they were close to a broader trade agreement after weeks of talks.

Trump announced the three-day reprieve from 50-percent duties on select goods just hours before a midnight deadline.

The delay was "based on the fact that Canada and the U.S.A., subject to the finalization of documents, have a DEAL!" Trump wrote on his Truth Social platform.

Canadian Prime Minister Mark Carney was less definitive, saying "substantial progress has been made" towards a comprehensive trade deal, but "there is important work still to be done."

Ottawa and Washington have held intense negotiations on revising their existing deal, the United States-Canada-Mexico Agreement (USMCA), which Trump signed and praised during his first term but now says needs to change.

The US Trade Representative's office said on X that the pact between Washington and Ottawa is set to "include comprehensive market access for all American goods, economic security commitments, digital trade alignment" and other provisions.

A proclamation by Trump to pause the duties added that the suspension came about as "Canada has expressed a commitment to remove the discriminations or unreasonable and unequal impositions at issue."

Carney said the prospective deal aims to "address outstanding trade issues and deliver greater certainty and real benefits for Canadian businesses, workers, farmers and families."

- 'Discriminatory treatment' -

Trump had signed orders for the 50-percent duties last month, with the White House alleging "discriminatory treatment" by Canada against US automobile and dairy products.

The new tariffs would cover products such as wine, hockey sticks and cement.

They target around 5.5 percent of Canada's exports to the United States, worth about $20 billion, Oxford Economics estimates.

While this only poses a "modest" negative risk to Canada's economy, Oxford Economics said in a recent report that the duties would "affect central Canada's manufacturing sector much more severely."

Canadian negotiators have been in Washington to push for a deal to avoid the new tariffs and also secure relief on Trump's sector-specific duties, which have battered Canada's auto, steel, lumber and aluminum industries.

Ottawa reportedly offered concessions like pressuring provinces to put some US beverages back on their shelves.

Without going into details, Trump added in his Truth Social post: "The great Keystone XL Pipeline, long ago killed by Sleepy Joe Biden, may be awoken from the grave!"

Trump has previously called for the revival of the controversial project opposed by environmental activists, which was blocked under his predecessor Biden.

- Political concerns -

"It's not unusual for a trade negotiation to go right up to the deadline," former US commerce official Christopher Padilla told AFP.

He expects that the Trump administration threatened new tariffs to try and win early concessions from Canada as the countries negotiate new terms for the USMCA.

Oxford Economics anticipates that manufacturers who stand to be most impacted include those in the cement, paper, printing, wood, clothing and electronic equipment sectors.

With the US Supreme Court striking down many of Trump's global tariffs earlier this year, the president had tapped an untested legal provision for the new duties targeting Canada.

The US duties will not apply to Canadian energy, potash or goods already facing sector-specific tariffs, but are set to hit products covered by the USMCA.

Trump's trade envoy Jamieson Greer previously said the tariffs aimed to "hold Canada accountable" for its retaliation against the United States.

Business

Oil Extends Climb on Prolonged Hormuz Export Uncertainty

An automated oil drilling rig operated by ExxonMobil in Midland, Texas, US, August 17, 2026. REUTERS/Sheila Dang
An automated oil drilling rig operated by ExxonMobil in Midland, Texas, US, August 17, 2026. REUTERS/Sheila Dang
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Oil Extends Climb on Prolonged Hormuz Export Uncertainty

An automated oil drilling rig operated by ExxonMobil in Midland, Texas, US, August 17, 2026. REUTERS/Sheila Dang
An automated oil drilling rig operated by ExxonMobil in Midland, Texas, US, August 17, 2026. REUTERS/Sheila Dang

Oil prices climbed for a fourth straight day on Wednesday as investors weighed conflicting messages from Tehran and Washington on whether the Strait of Hormuz is open to ships.

Brent crude futures climbed 69 cents, or 0.8%, to $91.71 by 0415 GMT, while US West Texas Intermediate crude futures were up 76 cents, or 0.9%, to $85.70 a barrel, Reuters reported.

Both contracts closed on Tuesday at their highest in more than three weeks as hopes of peace between the US and Iran faded.

US President Donald Trump said on Tuesday no talks were taking place with Iran ⁠and insisted the ⁠Strait of Hormuz was open, contradicting Iran's assertion that the critical waterway remained shut to shipping.

A temporary ceasefire agreement expired on Monday and a senior Iranian official told Reuters that his country was moving to a "fully offensive" military posture due to the diplomatic stalemate, though there were no reports of fresh strikes by either side on Tuesday.

"The shipping risks are increasing again as attacks from Iran ⁠and Houthis remain prevalent in both key chokepoints, keeping oil prices supported in the near term," said June Goh, senior oil market analyst at Sparta Commodities, referring to the Strait of Hormuz and Bab el-Mandeb strait.

Shipping through Hormuz slowed, data showed on Wednesday, as most shipowners avoided the key waterway due to a lack of clear signaling on its reopening from a blockade.

"However, Gulf producers are finding alternative export routes to bring oil out to the Gulf of Oman," said Goh. "If sustainable, this could help increase shut-in production from these two producers."

To avoid the Strait of Hormuz, Iraq's cabinet approved mechanisms for exporting Iraqi ⁠crude through specialized international ⁠and local companies and via multiple export outlets, the government said on Tuesday.

The contracts under the new mechanism will run for three months starting September 1, according to a statement issued after the cabinet meeting.

In the US, crude oil and distillate inventories fell, while gasoline stocks rose last week, market sources said, citing data from the American Petroleum Institute.

Official inventory numbers from the US Energy Information Administration are due at 10:30 a.m. ET (1430 GMT), with analysts polled by Reuters expecting crude stocks fell by about 600,000 barrels in the week ended August 14.