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Saudi Arabia Explores Untapped Markets to Expand Global Flight Connections

The Air Connectivity Program pavilion during the annual meeting of the International Aviation Council in Riyadh (Photo by: Turky Al-Agili)
The Air Connectivity Program pavilion during the annual meeting of the International Aviation Council in Riyadh (Photo by: Turky Al-Agili)
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Saudi Arabia Explores Untapped Markets to Expand Global Flight Connections

The Air Connectivity Program pavilion during the annual meeting of the International Aviation Council in Riyadh (Photo by: Turky Al-Agili)
The Air Connectivity Program pavilion during the annual meeting of the International Aviation Council in Riyadh (Photo by: Turky Al-Agili)

Saudi Arabia has established the Air Connectivity Program in 2021 to work with air carriers and airports with the aim to launch additional routes and flights to targeted destinations.

The Kingdom is seeking to become a global aviation hub through several initiatives and programs, at the forefront of which is the National Aviation Strategy, which seeks to connect 250 direct destinations to and from Saudi airports, increase air traffic, and raise the volume of cargo.

In remarks to Asharq Al-Awsat, Executive Vice President of Aviation Development in the Air Connectivity program, Rashid Al-Shammari talked about a plan to expand air routes through 29 airports in the Kingdom by adding the largest number of plane seats.

He explained that the program links the National Tourism Strategy to the National Aviation Strategy through the launch of new routes, additional flights in priority target markets and seasonal trips.

He made his comments on the sidelines of the first annual meeting in the Middle East of the General Assembly of the Airports Council International, which is held in Riyadh from May 22-23.

He stated that the Air Connectivity Program has been able to launch more than 50 routes since its inception in 2021, and works to facilitate entry into the market and enhance expansion opportunities for travel partners to achieve the goals of Vision 2030, in addition to empowering cadres and developing operational excellence based on the latest technologies.

Some of the routes that were launched include a connection between Beijing and Riyadh. The program also cooperated this year with the Italian national carrier ETA to operate flights from the city of Rome to Jeddah and Riyadh.

At the global level, the Kingdom jumped 14 places in the rate of international air connectivity, to reach the 13th place in 2023 compared to 27th in 2019, according to the latest air connectivity index report issued by the International Air Transport Association (IATA), in a classification that includes more than 200 countries.

Moreover, in 2023, Riyadh Air was established by the Public Investment Fund, targeting more than 100 destinations by 2030 and providing more than 200,000 direct and indirect job opportunities, as well as contributing SAR 75 billion ($20 billion) to the country’s gross domestic product.

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Business

Indian Refiners Avoid Russian Oil in Push for US Trade Deal

An employee walks inside the premises of an oil refinery of Essar Oil in Vadinar in the western state of Gujarat, India, October 4, 2016. REUTERS/Amit Dave/File Photo
An employee walks inside the premises of an oil refinery of Essar Oil in Vadinar in the western state of Gujarat, India, October 4, 2016. REUTERS/Amit Dave/File Photo
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Indian Refiners Avoid Russian Oil in Push for US Trade Deal

An employee walks inside the premises of an oil refinery of Essar Oil in Vadinar in the western state of Gujarat, India, October 4, 2016. REUTERS/Amit Dave/File Photo
An employee walks inside the premises of an oil refinery of Essar Oil in Vadinar in the western state of Gujarat, India, October 4, 2016. REUTERS/Amit Dave/File Photo

Indian refiners are avoiding Russian oil purchases for delivery in April and are expected to stay away from such trades for longer, refining and trade sources said, a move that could help New Delhi seal a trade pact with Washington, according to Reuters.

The US and India moved closer to a trade pact on Friday, announcing a framework for a deal they hope to conclude by March that would lower tariffs and deepen economic cooperation.

Indian Oil, Bharat Petroleum and Reliance Industries are not accepting offers from traders for Russian oil loading in March and April, said a trader who approached the refiners.

These refiners, however, had already scheduled some deliveries of Russian oil in March, refining sources said. Most other refiners have stopped buying Russian crude.

A foreign ministry spokesperson said: “Diversifying our energy sourcing in keeping with objective market conditions and evolving international dynamics is at the core of our strategy” to ensure energy security for the world's most-populous nation.

Although a US-India statement on the trade framework did not mention Russian oil, President Donald Trump rescinded his 25% tariffs on Indian goods, imposed over Russian oil purchases, because, he said, New Delhi had “committed to stop directly or indirectly” importing Russian oil.

New Delhi has not announced plans to halt Russian oil imports.

India became the top buyer of discounted Russian seaborne crude after Russia invaded Ukraine in 2022, spurring a backlash from Western nations that had targeted Russia's energy sector with sanctions aimed at curtailing Moscow's revenue and making it harder to fund the war.

One regular Indian buyer is Russia-backed private refiner Nayara, which relies solely on Russian oil for its 400,000-barrel-per-day refinery. Sources said Nayara may be allowed to keep buying Russian oil because other crude sellers pulled back after the European Union sanctioned the refiner in July.

Nayara also does not plan to import Russian crude in April due to a month-long refinery maintenance shutdown, a source familiar with its operations said.

Nayara did not respond to an email seeking comment.

Indian refiners may change their plan and place orders for Russian oil only if advised by the government, sources said.

Trump's order said US officials would monitor and recommend reinstating the tariffs if India resumed oil procurement from Russia.

Sources said last month that India was preparing to cut Russian oil imports below 1 million bpd by March, with volumes eventually falling to 500,000–600,000 bpd, compared with an average 1.7 million bpd last year. India's Russian oil imports topped 2 million bpd in mid-2025.

The intake of Russian oil by India, the world's third-biggest oil consumer and importer, declined to its lowest level in two years in December, data from trade and industry sources show.

 

Business

IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
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IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA

The International Monetary Fund (IMF) and the Arab Monetary Fund (AMF) signed a memorandum of understanding (MoU) on the sidelines of the AlUla Conference on Emerging Market Economies (EME) to enhance cooperation between the two institutions.

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki, SPA reported.

The agreement aims to strengthen coordination in economic and financial policy areas, including surveillance and lending activities, data and analytical exchange, capacity building, and the provision of technical assistance, in support of regional financial and economic stability.

Both sides affirmed that the MoU represents an important step toward deepening their strategic partnership and strengthening the regional financial safety net, serving member countries and enhancing their ability to address economic challenges.

Business

Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT
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Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT

The Federation of Saudi Chambers announced the formation of the first joint Saudi-Kuwaiti Business Council for its inaugural term (1447–1451 AH) and the election of Salman bin Hassan Al-Oqayel as its chairman.

Al-Oqayel said the council’s formation marks a pivotal milestone in economic relations between Saudi Arabia and Kuwait, reflecting a practical approach to enabling the business sectors in both countries to capitalize on promising investment opportunities and strengthen bilateral trade and investment partnerships, SPA reported.

He noted that trade between Saudi Arabia and Kuwait reached approximately SAR9.5 billion by the end of November 2025, including SAR8 billion in Saudi exports and SAR1.5 billion in Kuwaiti imports.