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Riyadh Air Announces Inaugural Flights to London on October 26, Unveils ‘Sfeer’ Loyalty Program

Starting October 26, Riyadh Air will operate daily flights between Riyadh and London Heathrow using its Boeing 787-9 aircraft, named “Jamila.” (SPA)
Starting October 26, Riyadh Air will operate daily flights between Riyadh and London Heathrow using its Boeing 787-9 aircraft, named “Jamila.” (SPA)
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Riyadh Air Announces Inaugural Flights to London on October 26, Unveils ‘Sfeer’ Loyalty Program

Starting October 26, Riyadh Air will operate daily flights between Riyadh and London Heathrow using its Boeing 787-9 aircraft, named “Jamila.” (SPA)
Starting October 26, Riyadh Air will operate daily flights between Riyadh and London Heathrow using its Boeing 787-9 aircraft, named “Jamila.” (SPA)

Riyadh Air, Saudi Arabia’s new national carrier and a Public Investment Fund company, announced on Wednesday the launch of its first daily flights to London Heathrow Airport, starting October 26. The milestone marks a major step toward achieving full operational readiness and delivering world-class travel experiences.

The airline also unveiled its innovative loyalty program, “Sfeer,” designed to offer exclusive benefits to its early founding members and to redefine the future of loyalty in global aviation, said Riyadh Air in a statement.

Starting October 26, Riyadh Air will operate daily flights between Riyadh and London Heathrow using its Boeing 787-9 aircraft, named “Jamila,” currently serving as the airline’s technical spare. In the initial phase, tickets will be available for select passenger groups and Riyadh Air employees as part of a structured operational program to ensure full readiness ahead of receiving its first new aircraft from Boeing, while also utilizing its newly allocated operational slot at Heathrow Airport.

The inaugural flight RX401 will depart King Khalid International Airport in Riyadh at 3:15 a.m. and arrive at London Heathrow at 7:30 a.m. The return flight RX402 will depart London at 9:30 a.m. and arrive in Riyadh at 7:15 p.m.

This operational phase represents a key milestone in Riyadh Air’s journey, which will soon be followed by additional routes, including Dubai, underscoring the airline’s commitment to excellence. Through comprehensive evaluation of the initial “Jamila” flights, the airline is ensuring world-class readiness and service quality ahead of launching new destinations for the Winter 2025 and Summer 2026 seasons.

Commenting on the milestone, Riyadh Air CEO Tony Douglas said: “This is more than just the launch of a route, it is the realization of our vision to connect the Kingdom with the world as a driving force of Saudi Vision 2030.”

“Our commitment to begin operations in 2025 is now taking shape. This carefully planned flight program allows us to perfect every operational detail to ensure a seamless, reliable, and world-class travel experience. We are only steps away from full-scale operations, with more destination launches to be announced in the coming weeks,” he added.

Douglas sressed that the new “Sfeer” program combines the Arabic meaning of “Ambassador” with the English word “Sphere,” symbolizing global connection. “Sfeer” enables members to embody Saudi hospitality and represent Riyadh Air internationally. It introduces a unique, community-driven approach to loyalty programs that blends social engagement with innovative digital experiences, allowing members to explore the best of Saudi Arabia.

A distinctive feature of “Sfeer” is its ability to allow members to share Level Points with family and friends, helping them reach higher membership tiers together.

Registration is now open on Riyadh Air’s official website, where early registrants will be granted “Founding Member” status, gaining early access to bookings on Riyadh Air’s first flights and additional exclusive benefits to be announced soon.

The innovative design of “Sfeer” centers on community, enabling members to soon share their points, rewards, and qualified spending with family and friends, reflecting Saudi generosity and collective spirit. By 2026, once fully activated, “Sfeer” will introduce interactive digital challenges, leaderboards, and a “no points expiry” policy, representing a true embodiment of Saudi generosity.

Joining “Sfeer” today grants members immediate benefits and positions them at the forefront of Riyadh Air’s journey. Founding members will enjoy priority booking when commercial flights open for sale and exclusive invitations to special events and experiences.

Over the coming months, all members will have access to unique activities and partnerships with local and international entities, including culinary and entertainment experiences, and opportunities to win free flights and valuable prizes.

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Business

Gold Prices Dip as Markets Brace for 'Hawkish' Fed Tone

UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola
UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola
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Gold Prices Dip as Markets Brace for 'Hawkish' Fed Tone

UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola
UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola

Gold edged down on Tuesday as investors, having mostly priced in a Federal Reserve rate cut, looked ahead for clues that the US central bank might opt for a gentler-than-expected easing cycle when its two-day policy meeting begins later in the day.

Spot gold was down 0.3% to $4,174.91 per ounce, as of 0609 GMT. US gold futures for December delivery slipped 0.4% to $4,202.70 per ounce.

Investors are largely repositioning ahead of the Federal Reserve's policy meeting, OANDA senior market analyst Kelvin Wong said.

"Earlier in the month, Jerome Powell signalled hawkish rate-cut guidance during his press conference. So investors in the US Treasury market are adjusting their positions."

The benchmark US 10-year Treasury yields held near a 2-1/2-month peak hit on Monday, Reuters reported.

Analysts widely expect a "hawkish cut" this week accompanied by guidance and forecasts that signal a high threshold for further easing into next year.

Last week, data showed the US Personal Consumption Expenditures (PCE) Price Index, the Fed's preferred inflation gauge, landed in line with expectations, while consumer sentiment improved in December.

Private payrolls for November recorded their sharpest drop in more than 2-1/2 years, but jobless claims fell to a three-year low for the week ended November 28.

Markets now assign an 89% probability of a quarter-point cut at the Fed's December 9–10 meeting, according to CME's FedWatch Tool.

Lower interest rates tend to favor non-yielding assets such as gold.

Meanwhile, silver fell 0.6% to $57.76 per ounce. The white metal hit a record high of $59.32 on Friday.

"Right now, silver is more of a higher-beta play among precious metals," Wong said, adding that low inventories, strong industrial demand, and expectations of Fed rate cuts are driving its momentum, pushing it into risk-on mode and outperforming gold.

Platinum lost 0.2% to $1,638.35, while palladium shed 0.4% to $1,459.78.

Business

Türkiye Cenbank Net Reserves Rose $5.5 billion Last Week, Bankers Say

Türkiye's Central Bank headquarters is seen in Ankara, Türkiye in this January 24, 2014 file photo. REUTERS/Umit Bektas
Türkiye's Central Bank headquarters is seen in Ankara, Türkiye in this January 24, 2014 file photo. REUTERS/Umit Bektas
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Türkiye Cenbank Net Reserves Rose $5.5 billion Last Week, Bankers Say

Türkiye's Central Bank headquarters is seen in Ankara, Türkiye in this January 24, 2014 file photo. REUTERS/Umit Bektas
Türkiye's Central Bank headquarters is seen in Ankara, Türkiye in this January 24, 2014 file photo. REUTERS/Umit Bektas

The Turkish Central Bank's net reserves increased by around $5.5 billion last week, due to foreign currency buying and rising gold prices, according to bankers.

Calculations by four bankers showed that net reserves rose to almost $78 billion in the week ending December 5, with net reserves excluding swaps rising some $4.5 billion to $62.5 billion, Reuters reported.

The bankers said the central bank bought more than $3 billion last week, with more than $1 billion of the increase due to the gold price change.

The bank's total gross reserves increased by $3.3 billion to $186.5 billion last week, the bankers said.

Their calculations were based on the central bank's preliminary data, with official data to be released on Thursday.

Business

Non-Oil Activities Account for Half of Saudi Economic Growth Momentum

Photo of the Saudi capital (SPA) 
Photo of the Saudi capital (SPA) 
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Non-Oil Activities Account for Half of Saudi Economic Growth Momentum

Photo of the Saudi capital (SPA) 
Photo of the Saudi capital (SPA) 

The Saudi economy posted real growth of 4.8% in the third quarter of 2025 compared with the same period of the previous year, reflecting the Kingdom’s sustained economic momentum. Non-oil activities were the primary engine of expansion, while seasonally adjusted real GDP rose 1.4% from the second quarter of 2025.

According to the final data released by the General Authority for Statistics (GASTAT), the annual growth figure came in slightly below the flash estimate published last October, which had projected a 5% increase. Even so, it remains the strongest quarterly performance recorded in 2025.

Non-oil activities delivered the largest contribution to overall annual growth, adding 2.4 percentage points, or 50% of the total 4.8% expansion. This outpaced the contribution from oil activities, which added 2.0 percentage points. The Authority revised its estimate for non-oil growth downward to 4.3% (from 4.5% in the flash estimate), while slightly raising its estimate for oil-sector growth to 8.3% (from 8.2%) for the previous quarter.

This improvement coincided with the gradual ramp-up in oil production following the expiration of voluntary cuts by the OPEC+ alliance at the end of August. Saudi Arabia increased its output by approximately 547,000 barrels per day starting in September, followed by an additional 137,000 barrels per day from November onward.

Both government activities and net taxes on products made modest positive contributions of 0.2 percentage points each.

On a quarterly, seasonally adjusted basis, oil and non-oil activities contributed 0.8 and 0.3 percentage points, respectively.

All economic sectors recorded positive annual growth. Oil refining emerged as the fastest-growing activity in the third quarter, rising 11.9% year-on-year and 3.9% quarter-on-quarter. It was followed by crude oil and natural gas activities, which grew 7.3% annually and 3.2% quarterly. Electricity, gas, and water services also posted gains of 6.4% year-on-year and 1.0% quarter-on-quarter.

From the expenditure perspective, performance varied between annual and quarterly comparisons. Final private consumption increased 2.6% year-on-year, but slipped 0.6% from the previous quarter. Conversely, final government consumption declined 3.1% annually, while increasing 1.4% quarter-on-quarter.

Gross fixed capital formation fell 0.7% year-on-year, but rebounded strongly on a quarterly basis with a 6.2% increase, indicating a pickup in investment spending during the third quarter.

Regarding foreign trade, the overall performance was buoyed by a significant surge in exports, which climbed 18.4% year-on-year and 7.5% quarter-on-quarter, reflecting strong external demand for Saudi products. Imports rose 4.3% annually, but edged down 1.2% on a quarterly basis.