Flynas Launches First Direct Flights Between Riyadh and Damascus After 12-Year Suspension

Representatives from flynas, Riyadh Airports Company, and Syria during the launch ceremony of the Riyadh–Damascus flight route. (flynas)
Representatives from flynas, Riyadh Airports Company, and Syria during the launch ceremony of the Riyadh–Damascus flight route. (flynas)
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Flynas Launches First Direct Flights Between Riyadh and Damascus After 12-Year Suspension

Representatives from flynas, Riyadh Airports Company, and Syria during the launch ceremony of the Riyadh–Damascus flight route. (flynas)
Representatives from flynas, Riyadh Airports Company, and Syria during the launch ceremony of the Riyadh–Damascus flight route. (flynas)

Saudi airline flynas has inaugurated direct flights between Riyadh and Damascus, becoming the first Saudi carrier to reconnect the two capitals after more than 12 years.

The move marks a significant milestone in the airline’s strategic expansion plan, launched under the slogan “Connecting the World to the Kingdom.”

The inaugural flight ceremony took place on Thursday at King Khalid International Airport in Riyadh, attended by Syrian chargé d’affaires in Riyadh Counselor Hussein Abdulaziz, along with representatives from flynas, Riyadh Airports Company, and various media outlets.

Passengers traveling on the first flight to Damascus were welcomed with gifts, and the aircraft was greeted with a traditional water salute upon landing at Damascus International Airport. The reception was attended by the Saudi chargé d’affaires in Syria, along with officials from the Syrian Civil Aviation Authority, Damascus Airport, and flynas.

According to a company statement, the relaunch of flights to Damascus reflects flynas’ commitment to strengthening Saudi-Syrian relations.

The airline had previously operated direct flights from Riyadh and Jeddah to several Syrian cities including Damascus, Aleppo, and Latakia.

The launch supports Saudi Arabia’s National Aviation Strategy, which aims to connect the Kingdom to 250 international destinations, handle 330 million passengers annually, and welcome 150 million tourists by 2030. It also aligns with the goals of the Pilgrim Experience Program, which facilitates easier access to the Two Holy Mosques.

Flynas currently operates 139 routes to over 70 domestic and international destinations across 30 countries, with more than 2,000 flights per week. Since its founding in 2007, the airline has served over 80 million passengers.

Under its expansion strategy, flynas aims to grow its network to 165 destinations, in line with the objectives of Saudi Vision 2030.



Most Gulf Markets Gain on Iran Deal

 Traders wait at the Bahrain Bourse in Manama_ Bahrain_ November 8_ 2020. REUTERS
Traders wait at the Bahrain Bourse in Manama_ Bahrain_ November 8_ 2020. REUTERS
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Most Gulf Markets Gain on Iran Deal

 Traders wait at the Bahrain Bourse in Manama_ Bahrain_ November 8_ 2020. REUTERS
Traders wait at the Bahrain Bourse in Manama_ Bahrain_ November 8_ 2020. REUTERS

Most ‌Gulf equities rose in early trade on Monday after the US and Iran announced a preliminary deal to end the war and restore traffic through the Strait of Hormuz.

Pakistan's prime minister said the two countries ‌are expected to ‌sign a memorandum ‌of ⁠understanding in Switzerland ⁠on Friday, following mediation by Islamabad.

Trump said on Sunday the waterway would reopen "toll free" and that the US blockade of Iranian ⁠ports would be lifted, while ‌Iran's ‌Mehr news agency reported the ‌draft deal envisages reopening it ‌within 30 days under Iranian arrangements.

Saudi Arabia's benchmark index gained 0.5%, with the country's biggest ‌lender by assets, Saudi National Bank.

However, oil giant ⁠Saudi ⁠Aramco slipped 1.1%.

Brent crude futures fell $3.65, or 4.2%, to $83.68 a barrel by 0630 GMT.

Qatar's benchmark index advanced 1%, with Qatar National Bank, the region's largest lender, jumped 1.9%.

UAE bourses were closed for a public holiday.


Musk Says SpaceX Could Bring $1 Trillion in Revenue by 2030

Founder, CEO, Chairman, and Chief Engineer of SpaceX, Elon Musk, speaks via videolink on the day of SpaceX's initial public offering (IPO) at the Nasdaq MarketSite in New York City, US, June 12, 2026. REUTERS/Brendan McDermid
Founder, CEO, Chairman, and Chief Engineer of SpaceX, Elon Musk, speaks via videolink on the day of SpaceX's initial public offering (IPO) at the Nasdaq MarketSite in New York City, US, June 12, 2026. REUTERS/Brendan McDermid
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Musk Says SpaceX Could Bring $1 Trillion in Revenue by 2030

Founder, CEO, Chairman, and Chief Engineer of SpaceX, Elon Musk, speaks via videolink on the day of SpaceX's initial public offering (IPO) at the Nasdaq MarketSite in New York City, US, June 12, 2026. REUTERS/Brendan McDermid
Founder, CEO, Chairman, and Chief Engineer of SpaceX, Elon Musk, speaks via videolink on the day of SpaceX's initial public offering (IPO) at the Nasdaq MarketSite in New York City, US, June 12, 2026. REUTERS/Brendan McDermid

Elon ‌Musk said on Sunday that his rocket company, SpaceX, could bring in $1 trillion in revenue by 2030, making the statement two days after the company went public, valuing it at over $2 trillion.

"And I would be surprised if revenue ‌is not greater ‌than $1T in 2031," he ‌wrote ⁠on his social ⁠media platform X, replying to journalist and financial commentator Jon Erlichman.

SpaceX on Friday became the sixth-largest US firm, cementing Musk's status as the ⁠world's first trillionaire.

However, the ‌company ‌still makes far less money than similarly ‌valued tech giants like ‌Broadcom and Amazon.com.

In 2025, SpaceX's revenue jumped to $18.67 billion from $14.02 billion a year earlier, but the ‌company swung to a net loss of $4.94 billion from ⁠a ⁠profit of $791 million.

Some Wall Street analysts are cautious about the company's growth.

Goldman had estimated that SpaceX's revenue would exceed $470 billion in 2030, while Morgan Stanley projected it would reach nearly $330 billion, according to a Wall Street Journal report from earlier this month.


Fitch Affirms China's Credit Rating at 'A'

 A woman walks past murals at a shopping center in Beijing on June 13, 2026. (AFP)
A woman walks past murals at a shopping center in Beijing on June 13, 2026. (AFP)
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Fitch Affirms China's Credit Rating at 'A'

 A woman walks past murals at a shopping center in Beijing on June 13, 2026. (AFP)
A woman walks past murals at a shopping center in Beijing on June 13, 2026. (AFP)

Global ratings agency Fitch on Monday affirmed China's long-term sovereign rating at "A" with a stable outlook, citing its large and diversified ‌economy, which supports ‌prospects for solid ‌GDP ⁠growth and the ⁠country's important role in global trade.

China, which faced high US tariff uncertainty last year, should see some relaxation after US President ⁠Donald Trump's visit, Fitch said, ‌even ‌as it warned of weak ‌household confidence weighing on goods ‌consumption.

Data from last month showed China's official manufacturing purchasing managers' index dropping to 50 from ‌50.3 in April, its lowest reading in three months ⁠as ⁠demand weakened. A level below 50 typically signals contraction.

"The energy price shock may pose a challenge, but large crude oil inventories, substantial refining capacity and diversified energy sources should cushion risks," the ratings agency said.