海角直播

Saudi aviation sector soaring after record growth, major expansions

Saudi aviation sector soaring after record growth, major expansions
Riyadh Air is set to commence operations in 2025. Shutterstock
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Updated 03 January 2025

Saudi aviation sector soaring after record growth, major expansions

Saudi aviation sector soaring after record growth, major expansions

JEDDAH: 海角直播鈥檚 aviation sector reached new heights over the past 12 months, marked by a surge in passenger numbers, a fleet expansion with new jet acquisitions, and strategic global partnerships.

These advancements are part of a broader vision to establish the Kingdom as a global aviation hub and a top-tier destination for travelers worldwide.

海角直播 is investing billions of dollars as part of its Vision 2030 plan to diversify its economy away from fossil fuels, boosting its private sector, and enhancing connectivity, as well as solidifying its role in the global aviation industry.

As part of this plan, aviation goals for the Kingdom include delivering seamless experiences to 330 million passengers across over 250 destinations, and the transportation of 4.5 million tons of air cargo by 2030.

鈥淭his transformative strategy offers lucrative opportunities for the private sector to contribute to the realization of the country鈥檚 ambitions,鈥 said President of the General Authority of Civil Aviation Abdulaziz bin Abdullah Al-Duailej.

He added that among these opportunities are the privatization potential of 27 airports, which are currently in preparation for transfer to private ownership.

鈥淢oreover, numerous aircraft requests and destination openings have been approved, providing further avenues for private sector involvement in the sector鈥檚 growth and development.鈥 Al-Duailej added.

Passenger numbers and air freight volume surges

Between January and September, 海角直播鈥檚 aviation sector achieved record growth, with passenger numbers reaching 94 million, accounting for a 15 percent increase.

The number of聽flights also saw a 10 percent rise compared to 2023, while air freight volumes approached 1 million tonnes, reflecting a 52 percent increase.

These achievements were announced at GACA鈥檚 14th Steering Committee Meeting for activating the National Strategy for the Aviation Sector, held in October in Dammam.

GACA President Abdulaziz bin Al-Duailej highlighted the expansion of air connectivity during this period, with flights departing to over 150 destinations weekly.

Saudi business aviation soars with Vision 2030 growth

海角直播鈥檚 business aviation sector is booming, driven by the Kingdom鈥檚 expanding economy, major government infrastructure investments, and a rising influx of high-net-worth individuals.

Valued at $1.2 billion in 2023, the sector is expected to grow at a compound annual rate of 8.88 percent from 2025 to 2029.

The growth was highlighted in the GACA鈥檚 roadmap, unveiled at Riyadh鈥檚 Future Aviation Forum in May.

Global firms tapped for King Salman Airport expansion




An image of how聽King Salman International Airport will look after it has been developed. File

In 2024, global firms such as Foster & Partners, Jacobs Engineering, Mace, and Nera were selected for the next phase of King Salman International Airport鈥檚 development in Riyadh.

Led by the King Salman International Airport Development Co., a subsidiary of the Kingdom鈥檚 Public Investment Fund, the collaborations will support the airport鈥檚 expansion, positioning it as a key hub for tourism and transportation.

Riyadh Air expands fleet, partnerships ahead of 2025 launch

In October, Riyadh Air signed an agreement to purchase 60 Airbus A321neo single-aisle aircraft as it plans to commence its operations in 2025.聽

The deal was signed at the 8th Future Investment Initiative in Riyadh.

In the same month the company said that it had plans to order wide-body aircraft capable of seating more than 300 passengers in 2025.

In August, the new airline announced it had secured a multi-year agreement to become the official airline partner of Concacaf, the FIFA Confederation for North, Central America, and the Caribbean.

The deal aims to enhance the airline鈥檚 presence in global sports and support Concacaf鈥檚 national and club competitions across the Americas.聽

In June, Riyadh Air signed agreements with Singapore Airlines and Air China, to establish strategic partnerships and expand its global network.

The agreements focus on interline connectivity, codeshare, frequent flyer programs, cargo services, customer experience, and digital innovation.

The company partnered with China Eastern Airlines to enhance connectivity and digital transformation and with Delta Air Lines to expand North American routes.

In April, the carrier announced a partnership with Artefact to build a data analytics platform and develop AI solutions, enabling hyper-personalization, improved guest experiences, and optimized operations.聽

The collaboration aims to revolutionize Saudi aviation through advanced artificial intelligence applications.

鈥淭hrough AI integration, we aim to redefine travel standards, offering personalized, seamless digital-first experience to our guests ahead of our maiden flight in 2025,鈥 Abe Dev, the airline鈥檚 vice president of digital and innovation said.

In May, the airline said it had plans to bolster its aircraft lineup through additional orders, as it requires 鈥渁 very large fleet鈥 to establish itself alongside regional giants, according to its CEO Tony Douglas.

This move comes as the Kingdom鈥檚 second flag carrier ordered 39 Boeing 787-9 jets in 2023, with options for 33 more. 鈥淲e鈥檙e going to make a number of additional orders,鈥 Douglas said.

The airline鈥檚 initial destinations will include major cities in Europe, the US East Coast, and Canada, with the inaugural flight scheduled to depart by June 2025.

Saudia boosts aviation with key partnerships, fleet growth




The signing ceremony was attended by French President Emmanuel Macron, 海角直播n Airlines Corp. Chairman Saleh Al-Jasser, Saudia Group Director Gen. Ibrahim Al-Omar, and several other dignitaries and ministers. SPA

In December, Saudia entered a strategic partnership with Air France-KLM to expand and localize its maintenance, repair, and overhaul capabilities. This collaboration aims to enhance the Kingdom鈥檚 aviation infrastructure and contribute to its economic growth.

In July, the Saudia Group and German aerospace company Lilium NV, developer of fully electric vertical takeoff and landing aircraft, entered into an agreement to purchase 50 confirmed Lilium Jets, with an option for an additional 50 aircraft. The deal will make the Saudi carrier the first airline in the region to invest in sustainable air mobility.

In May, Saudia and Riyadh Air signed an agreement during the Future Aviation Forum to collaborate on training aviation professionals.

During the same event, Saudia Group announced a $19 billion order for 105 A320neo family aircraft, the largest Airbus deal in Saudi history. The planes, including A320neo and A321neo models, will be split between Saudia and its low-cost carrier flyadeal, with deliveries starting in early 2026.

Flyadeal receives first owned plane, aims for 100 by 2030

In 2024, Saudia鈥檚 low-cost airline flyadeal took delivery of its first wholly-owned aircraft, an Airbus A320neo.

Announcing the milestone in June, the airline revealed plans to expand its fleet to around 50 aircraft by the end of 2025, doubling to 100 by 2030. As part of its growth strategy, flyadeal also launched seven weekly flights between Riyadh and Sarajevo, utilizing an Airbus A320.

Looking ahead, the airline announced the addition of three new domestic routes starting January. Services from Dammam to Najran and four weekly flights to Tabuk commenced on Jan. 1, followed by three weekly flights to Yanbu starting from Jan. 2.

Flynas secures 280-aircraft deal amid record growth

Flynas, named the Best Low-Cost Airline in the Middle East for the seventh consecutive year, reported a 47 percent rise in passenger numbers, exceeding 7 million in the first half of 2024.

In November, the airline announced new African routes, with flights from Riyadh to Entebbe, Uganda, and Jeddah to Djibouti starting Jan. 8, 2025, under its 鈥淲e Connect the World to the Kingdom鈥 initiative.

In July, Flynas signed a deal at the Farnborough Airshow to purchase 160 Airbus aircraft, doubling its orders to 280 planes, including 30 wide-body A330neo and 130 narrow-body A320 models. The carrier also celebrated receiving its 53rd A320neo as part of a SR32 billion ($8.5 billion) order for 120 planes.


Closing Bell: Saudi main index slips to close at 10,714

Closing Bell: Saudi main index slips to close at 10,714
Updated 17 June 2025

Closing Bell: Saudi main index slips to close at 10,714

Closing Bell: Saudi main index slips to close at 10,714
  • Parallel market Nomu聽shed 214.39 points to close at 26,458.24
  • MSCI Tadawul Index declined by 1.14% to 1,378.44

RIYADH: 海角直播鈥檚 Tadawul All Share Index slipped on Tuesday, as it shed 153.22 points or 1.41 percent to close at 10,713.82.  

The total trading turnover of the benchmark index was SR4.97 billion ($1.32 billion), with 20 of the listed stocks advancing and 228 declining. 

海角直播鈥檚 parallel market Nomu also shed 214.39 points to close at 26,458.24. 

The MSCI Tadawul Index declined by 1.14 percent to 1,378.44. 

The best-performing stock on the main market was Saudi Research and Media Group. The company鈥檚 share price increased by 6.88 percent to SR170.80. 

The share price of SABIC Agri-Nutrients Co. advanced by 4.82 percent to SR108.80.

Zamil Industrial Investment Co. also saw its stock price climb by 4.71 percent to SR40. 

Conversely, the stock price of media giant MBC Group Co. dropped by 6.56 percent to SR33.45. 

On the announcements front, Tadawul, in a statement, said that shares of Saudi low-cost air carrier flynas will begin trading on the main market under the symbol 4264 from June 18. 

The daily and static fluctuation limits for the company鈥檚 stocks will be set at 30 percent and 10 percent, respectively, during the first three days of trading.

On June 17, Saudi National Bank announced the issuance of US dollar-denominated Tier 2 debt instruments through a special purpose vehicle, targeting qualified investors both inside and outside the Kingdom.

The financial institution added that the final issuance value and offering terms will be determined based on market conditions, according to a Tadawul statement. 

The minimum subscription value is $200,000, with a 10-year maturity period. 

The debt instruments will be listed on the London Stock Exchange鈥檚 International Securities Market. 

The share price of SNB edged up by 0.58 percent to SR34.50. 

Advance International Co. for Communication and Information Technology announced that it completed the offering and subscription of SR-denominated Murabaha sukuk valued at SR6 million. 

Murabaha sukuk is a financial instrument based on Islamic finance principles, offering an interest-free investment option. 

In a Tadawul statement, AICTEC said that the offering aims to strengthen the company鈥檚 working capital as well as support capital expansions. 

The stock price of AICTEC rose by 3.57 percent to SR2.90. 


IsDB Group partners with Turkiye to drive green industrial growth

IsDB Group partners with Turkiye to drive green industrial growth
Updated 17 June 2025

IsDB Group partners with Turkiye to drive green industrial growth

IsDB Group partners with Turkiye to drive green industrial growth
  • Initiative supports Turkiye鈥檚 2053 net-zero emissions target

JEDDAH: The Islamic Development Bank Group has partnered with Turkiye鈥檚 Ministry of Industry and Technology to advance sustainable manufacturing and infrastructure as part of a broader push to modernize the country鈥檚 industrial zones and accelerate its green transition.

The initiative supports Turkiye鈥檚 2053 net-zero emissions target and aligns with the 12th National Development Plan (2024鈥28) and the 2030 Industry and Technology Strategy.

According to the Saudi Press Agency, the project aims to cluster industrial enterprises within designated zones, reducing environmental impact and promoting climate-conscious development.

While Turkiye has committed to peak emissions by 2038 and reach net zero by 2053, independent assessments question the feasibility of this goal.

Climate Action Tracker has rated the strategy as 鈥減oor,鈥 citing a lack of ambition and transparency, and warning that the 15-year window to net zero is overly compressed.

Still, some subsectors鈥攕uch as cement, iron and steel, aluminum, and fertilizers鈥攈ave set clearer reduction targets, although they remain exceptions, CAT notes.

Walid Abdelwahab, director of the IsDB Group鈥檚 regional hub in Turkiye, described the project as 鈥渁 vital step in fulfilling the IsDB鈥檚 commitment to supporting sustainable industrial transformation, enhancing economic resilience, and promoting climate-conscious development.鈥

A multidisciplinary team from IsDB鈥檚 Jeddah headquarters and Ankara office has been working closely with various government bodies and industrial zone authorities. Discussions have focused on collecting data, identifying challenges, and shaping the project in line with national investment and climate resilience goals.

According to SPA, the initiative will also address key areas such as wastewater management, improved water use efficiency, and green infrastructure, laying the groundwork for long-term sustainable industrial growth.


Energy security is not a luxury but key to inclusive growth, says Saudi minister

Energy security is not a luxury but key to inclusive growth, says Saudi minister
Updated 17 June 2025

Energy security is not a luxury but key to inclusive growth, says Saudi minister

Energy security is not a luxury but key to inclusive growth, says Saudi minister
  • Al-Jadaan warned the absence of reliable energy access undermines critical sectors
  • He underscored the far-reaching consequences of energy poverty

RIYADH: Energy security is not a luxury but 鈥渁 fundamental pillar for achieving development and inclusive growth,鈥 said 海角直播鈥檚 Finance Minister Mohammed Al-Jadaan.  

Delivering the opening remarks at the OPEC Fund for International Development Forum 2025 in Vienna, Al-Jadaan warned that the absence of reliable energy access undermines critical sectors, including healthcare, education, productivity, and food and water systems. 

鈥淲ith rising geopolitical tensions, market volatility, and surging global energy demand, it has never been more urgent to achieve a more secure and diversified energy landscape,鈥 Al-Jadaan said. 

He added: 鈥淭his requires a strategic push to diversify energy sources, scale up investment in clean technologies, and adopt innovative financing solutions to accelerate energy access and strengthen long-term energy security.鈥 

Four-point reform plan 

Al-Jadaan outlined four policy recommendations for multilateral development banks aimed at boosting global energy resilience. He stressed the need to support all energy sources without bias and cautioned against emissions policies that exclude major energy contributors. 

He said such policies risk destabilizing markets and disproportionately impact developing economies and vulnerable populations. 

 

 

His second recommendation focused on expanding concessional financing to underserved regions. The minister praised the World Bank鈥檚 鈥淢ission 300鈥 initiative, which aims to provide energy access to 300 million people in Africa, and acknowledged the contributions of the Islamic Development Bank and the OPEC Fund. 

Al-Jadaan also commended 海角直播鈥檚 Forward7 Clean Fuel Solutions for Food initiative under the Middle East Green Initiative, which promotes clean fuel deployment globally. The program has partnered with institutions including the OPEC Fund, the World Bank, the Islamic Development Bank, and the International Islamic Trade Finance Corp. 

De-risking and innovation

Al-Jadaan鈥檚 third point emphasized the need to de-risk investments in the energy sector to encourage private sector involvement.  

He cited mechanisms such as partial risk guarantees, political risk insurance, and blended finance structures as essential tools to mitigate risks and enhance the feasibility of energy projects, particularly in low-income and high-risk countries. 

鈥淭hese tools help mitigate expected risks and enhance the bankability of energy projects, especially in low-income and high-risk countries,鈥 the minister said. 

In his final point, Al-Jadaan called for stronger investment in technologies such as carbon capture and sustainable hydrocarbon applications to reduce emissions and maintain supply during the transition to net-zero. 

He underscored the far-reaching consequences of energy poverty, including economic instability, forced migration, and increased humanitarian pressures. 

Al-Jadaan reaffirmed the Kingdom鈥檚 aim to generate 50 percent of electricity from renewables by 2030 and achieve net-zero emissions by 2060. These goals are being pursued under the Circular Carbon Economy framework. 

鈥淚n the Kingdom of 海角直播, we are working with everyone to enhance energy security and eliminate energy poverty, while continuing efforts to combat climate change,鈥 he said. 

Development crisis warning 

OPEC Fund President Abdulhamid Al-Khalifa also addressed the forum, warning of a worsening global development gap.  

He said the world is facing what the UN secretary-general has described as a 鈥渄evelopment emergency,鈥 pointing out that only 18 percent of Sustainable Development Goals have made measurable progress since their inception in 2015. 

鈥淒eveloping countries face a $4 trillion annual funding gap, worsened by rising debt servicing costs that are draining resources from essential services,鈥 Al-Khalifa said. 

To address this, he said the OPEC Fund is ramping up efforts and leveraging momentum from previous forums. Among its recent actions, the fund has joined the 鈥淢ission 300鈥 initiative to expand energy access. 

It has also deployed $1 billion as part of its food security action plan, committed an additional $2 billion to support food supply chains in partner countries, and allocated $1 billion to combat desertification under the Arab Coordination Group's $10 billion Riyadh Global Drought Resilience Partnership. 

New trade facility 

Al-Khalifa also announced the launch of the OPEC Fund Trade Facility Initiative, a program designed to mobilize billions of dollars in support through 2030. 

The facility aims to help countries secure strategic imports, address trade-related liquidity gaps, and strengthen resilience against external economic shocks. 

鈥淭his is a direct response to an urgent need, and a reflection of our commitments to stand by our partners when it matters most,鈥 he said. 

Al-Khalifa emphasized the growing strain on trade as a development cornerstone, citing disrupted supply chains, rising costs, and foreign exchange volatility that are affecting the most vulnerable communities.  

Project milestones 

In 2024, the OPEC Fund committed $2.3 billion to 70 projects across the globe 鈥 a 35 percent increase compared to the previous year. 

These projects connected 300,000 households to electricity, built over 500 km of roads, and supported 75,000 farmers and 35,000 women. 

As the Arab Coordination Group marks its 50th anniversary this year, Al-Khalifa noted the significance of this milestone, saying the OPEC Fund is honored to stand alongside other member institutions in celebrating five decades of collaborative development efforts. 

鈥淲e know from experience, when partners align their resources, expertise, and approaches, the results are transformative,鈥 he said. 

Both Al-Jadaan and Al-Khalifa stressed that global cooperation and innovation are critical to overcoming current challenges and advancing toward a future of inclusive and sustainable development. 


海角直播, Panama sign air transport agreement to strengthen global connectivity

海角直播, Panama sign air transport agreement to strengthen global connectivity
Updated 17 June 2025

海角直播, Panama sign air transport agreement to strengthen global connectivity

海角直播, Panama sign air transport agreement to strengthen global connectivity
  • Deal signed during 55th edition of Paris Air Show
  • It reflects Kingdom鈥檚 broader efforts to expand its global aviation footprint

RIYADH: 海角直播 and Panama have signed a bilateral air services agreement to enhance air connectivity between the two countries and expand access to global aviation markets.

The deal was signed during the 55th edition of the Paris Air Show by Abdulaziz Al-Duailej, president of the General Authority of Civil Aviation, and establishes a regulatory framework for safe, efficient, and fair air services, according to the Saudi Press Agency.

The new agreement complements the 1944 Chicago Convention on International Civil Aviation, the legal foundation for global air travel. It includes provisions on traffic rights, airline designation, and licensing, as well as the enforcement of international safety and security standards.

It is also designed to promote fair competition and support the long-term commercial interests of national carriers in both countries.

The deal aims to serve the common economic interests of national carriers and enhance their participation in the air transport market by applying modern market-entry models and supporting all forms of air traffic, SPA reported.

It reflects the Kingdom鈥檚 broader efforts to expand its global aviation footprint in line with Vision 2030. As part of its National Aviation Strategy, the country is building international partnerships, strengthening regulatory frameworks, and increasing air connectivity to link to 250 global destinations and transport 330 million passengers annually by 2030.

鈥淭he organization鈥檚 participation aims to highlight the role of the civil aviation sector in the Kingdom as an important driver of the national economy, the promising investment opportunities it offers, and to learn more about the latest innovative global technologies in the sector,鈥 the report added.

海角直播, represented by GACA, concluded its participation at the Paris Air Show with a wider range of strategic announcements aimed at bolstering its aviation sector. Key outcomes included a memorandum of understanding with Airbus on environmental sustainability and aviation safety, a leasing deal for 77 new aircraft by Avilease, and Riyadh Air鈥檚 order for 50 Airbus A350-1000 jets, increasing its future fleet to 182 aircraft in line with Vision 2030鈥檚 goal of positioning Riyadh as a global air hub.

The Saudi delegation was led by Saleh Al-Jasser, minister of transport and logistic services and chairman of GACA, accompanied by GACA president and senior executives from across the Kingdom鈥檚 aviation ecosystem. Their participation focused on strengthening partnerships with leading aerospace companies, attracting investment into the Saudi aviation sector, and advancing bilateral cooperation.

During the show, Al-Jasser and the delegation toured various pavilions showcasing innovations in advanced air mobility, aerospace, sustainability, and smart manufacturing.

They observed emerging solutions featuring high levels of automation and digitization across both commercial and military aircraft.

In addition to the MoU with Airbus, the show saw key commercial signings. Avilease, a Public Investment Fund-owned leasing firm, agreed to purchase 77 new-generation aircraft, including A350 freighters and A320 narrow-body jets. Riyadh Air confirmed an order for 50 A350-1000 aircraft, part of its plan to turn Riyadh into a global aviation hub.

A separate agreement was signed between Cluster 2 Airports Co. and Airbus to explore collaboration opportunities in training, development, and investment.

Al-Duailej also met with several global aviation leaders, including Damien Caze, director general of the French Civil Aviation Authority; Arjan Meijer, CEO of Embraer; and Bahrain鈥檚 Minister of Transportation and Telecommunications Sheikh Abdulla Al-Khalifa, to discuss regional cooperation.

The Kingdom鈥檚 presence at the Paris Air Show underscored its commitment to civil aviation as a driver of economic growth, innovation, and international connectivity. The event is one of the world鈥檚 most prominent in the aerospace industry, attracting thousands of participants and showcasing the latest in aviation, defense, and space technologies.


SIC, Investindustrial forge alliance to drive Saudi industrial expansion鈥

SIC, Investindustrial forge alliance to drive Saudi industrial expansion鈥
Updated 17 June 2025

SIC, Investindustrial forge alliance to drive Saudi industrial expansion鈥

SIC, Investindustrial forge alliance to drive Saudi industrial expansion鈥
  • Deal aims to catalyze new industrial investments in the Kingdom

RIYADH: SIDF Investment Co., the financial arm of the Saudi Industrial Development Fund, has entered into a strategic partnership with European private equity firm Investindustrial, marking its first international private equity commitment.

The agreement is aimed at catalyzing new industrial investments in the Kingdom by localizing advanced manufacturing and integrating Saudi small and medium-sized enterprises into Investindustrial鈥檚 global value chains.

The partnership is a significant milestone for SIC as it broadens its international engagement and supports 海角直播鈥檚 Vision 2030 objectives. These include attracting institutional capital, localizing industrial expertise, and contributing to the National Industrial Strategy, which targets increasing the number of factories to 36,000 by 2035.

The announcement follows a previous agreement in March between SIC and Ashmore Investment 海角直播 to launch a private closed-end industrial fund. The SR400 million ($106.6 million) initiative 鈥 the first of its kind in the Kingdom 鈥 is managed by a global asset manager and aims to support a wide array of industrial assets. That move laid the foundation for SIC鈥檚 private equity strategy to stimulate domestic investment and expand global partnerships.

鈥淭his agreement represents a new chapter for SIC,鈥 said Fahad Al-Naeem, CEO of SIC. 鈥淏y partnering with Investindustrial, we鈥檙e bridging global reach, operational depth, and industry specialization into our ecosystem, positioning 海角直播 as the platform for regional and international manufacturing growth.鈥

The targeted sectors include machinery and equipment, automation, medical devices, and sustainable consumer products, with an emphasis on local value creation and industrial innovation.

This move comes as the Kingdom ramps up efforts to strengthen its industrial base and draw international investment into strategic sectors. In April, 海角直播鈥檚 Industrial Production Index rose 3.1 percent year on year, led by gains in manufacturing and mining. Manufacturing activity alone climbed 7.4 percent annually, with a 0.5 percent uptick month on month.

Adding to this momentum, the government launched the Standard Incentives for the Industrial Sector program in May, offering up to 35 percent financing on initial capital expenditure per project, capped at SR50 million. The initiative supports facility development and operations over a seven-year term.

鈥淪IC will utilize its local market expertise to pave the way for global manufacturers to establish a footprint in 海角直播 and connect with international supply chains, benefiting from the Kingdom鈥檚 competitive position,鈥 Al-Naeem added.

Investindustrial, which has raised 鈧17 billion and operates across eight global offices, focuses on mid-market companies with a mission to drive sustainable value creation and support global expansion.

鈥淭he Kingdom of 海角直播 has emerged as a key strategic growth region for Investindustrial鈥檚 portfolio companies,鈥 said Andrea Bonomi, chairman of Investindustrial.
鈥淢any of our investments align closely with the goals of 海角直播鈥檚 Vision 2030, fostering strong and natural synergies for long-term value creation,鈥 Bonomi added.

The signing ceremony was attended by Prince Sultan bin Khaled, vice chairman of SIC, and Italy鈥檚 Ambassador to 海角直播, Carlo Baldocci, reflecting the high-level support backing the agreement.

The deal further advances SIC鈥檚 role as a gateway for institutional-grade industrial investment into 海角直播, reinforcing its mandate to help build a globally competitive and resilient manufacturing sector.