黑料社区

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: 黑料社区鈥檚 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.

黑料社区 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, 黑料社区鈥檚 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

黑料社区鈥檚 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, 黑料社区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.


黑料社区 to open region鈥檚 first cultural university in 2026

黑料社区 to open region鈥檚 first cultural university in 2026
Updated 12 sec ago

黑料社区 to open region鈥檚 first cultural university in 2026

黑料社区 to open region鈥檚 first cultural university in 2026

RIYADH: 黑料社区 will establish the Middle East and North Africa鈥檚 first cultural university as it steps up investment in its creative economy. 

Minister of Culture Prince Badr bin Abdullah Al-Saud unveiled the Riyadh University of Arts at the Cultural Investment Conference, saying the institution will begin operations in 2026. The university will focus on practice-based learning and global academic partnerships, with scholarships available to support emerging talents. 

The launch aligns with the Kingdom鈥檚 broader momentum in the cultural sector, which in 2024 attracted nearly 288,000 visitors to heritage-related events nationwide. 

Major attractions included the International Festival of Traditional Games in Riyadh, which drew more than 108,000 participants, and the World Heritage Day event, which welcomed over 54,000 visitors. 

Other key activities, such as the Diriyah-based Dirb Zubaida program, heritage village experiences, and traditional arts festivals, underscore the growing appetite for cultural and heritage experiences. 

On its official X handle, the ministry stated: 鈥淒uring his speech at the Cultural Investment Conference 2025, HH Badr bin Abdullah Al-Saud, Minister of Culture, announced the launch of Riyadh University of Arts, the first cultural university in the Middle East and North Africa.鈥  

These numbers reflect the sector鈥檚 expanding role in promoting cultural awareness, safeguarding heritage, and supporting 黑料社区鈥檚 Vision 2030 goals of building a vibrant society rooted in cultural identity.  

鈥淩UA aims to champion creative learning with a teaching philosophy grounded in practice and project-based learning, and partnerships with internationally renowned academic partners in the various cultural disciplines,鈥 the post added.   

The university鈥檚 vision is 鈥渢o be the inspiring beacon of knowledge for future generations, integrating culture and arts, empowering students to discover passions and develop talents, fostering creativity and cultural exchange.鈥  

According to the post, the university's mission is to 鈥渃ultivate an innovative educational environment in culture and arts, delivering cutting-edge programs that foster cultural and artistic engagement, enriching both the Saudi and global communities.鈥  

RUA鈥檚 campus in Irqah district will host 13 colleges across disciplines such as film, music, cultural management, visual arts and photography, culinary arts, heritage studies, and more.   

The first batch of academic programs will be launched under three colleges: the College of Theater and Performing Arts, the College of Music, and the College of Film. These will operate in collaboration with international cultural education institutions.  

The university will offer a wide range of academic credentials, including diplomas, bachelor鈥檚 degrees, master鈥檚 degrees, postgraduate diplomas, PhDs, and short courses. 


Pakistan buys 80,000 tons sugar, seeks 100,000 tons more

Pakistan buys 80,000 tons sugar, seeks 100,000 tons more
Updated 20 min 13 sec ago

Pakistan buys 80,000 tons sugar, seeks 100,000 tons more

Pakistan buys 80,000 tons sugar, seeks 100,000 tons more
  • Trading Corporation buys 80,000 tons white sugar as part of plan to import 500,000 tons to curb soaring domestic prices
  • New tender issued for an additional 100,000 tons, with offers due by Oct. 6 and shipments sought around Nov. 15

HAMBURG: Pakistan鈥檚 state agency the Trading Corporation of Pakistan (TCP) issued a tender to purchase 100,000 metric tons of white refined sugar and is believed to have bought 80,000 tons in a tender that closed last week, European traders said on Monday.

The deadline for price offers in the new international tender is October 6, with sugar arrival in Pakistan sought around November 15.

Traders said that following continued price negotiations in its previous tender reported on September 23, the TCP bought about 50,000 tons of fine grade sugar at and estimated $530 a ton cost and freight included (C&F) from ED&F Man and about 30,000 tons of medium grade from Al Khaleej Sugar at an estimated $568 a ton C&F.

Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.

The tender continued a series of purchases after Pakistan鈥檚 government approved plans to import 500,000 tons of sugar to help maintain price stability after retail sugar prices in the country rose sharply.


Saudi culture sector seeing 50,000 investors, says minister Al-Falih聽

Saudi culture sector seeing 50,000 investors, says minister Al-Falih聽
Updated 15 min 59 sec ago

Saudi culture sector seeing 50,000 investors, says minister Al-Falih聽

Saudi culture sector seeing 50,000 investors, says minister Al-Falih聽

RIYADH: 黑料社区鈥檚 push to become a global cultural hub is accelerating, with the Kingdom now home to over 50,000 investors and having attracted nearly half a billion dollars in foreign investment. 

The capital is being injected specifically into the burgeoning culture and entertainment sector, Minister of Investment Khalid Al-Falih revealed at the inaugural Cultural Investment Conference in Riyadh. 

During the conference鈥檚 first panel, which was moderated by Arab News鈥 Editor-in-Chief Faisal J. Abbas, the minister detailed the rapid growth of the cultural economy. 

鈥淚 can tell you from nothing 鈥 six, seven years ago 鈥 we have today over $500 million, SR1.8 billion ($480 million) in foreign investments in culture as of last year, so it is accelerating as we go, growing at double digit,鈥 he stated. 

He further specified that a significant portion of this investment is coming from abroad, noting: 鈥淚鈥檓 happy to say that we have 1,700 international investors that are investing in culture, creative, arts, events, entertainment, and all of the things that we classify under this very broad definition of culture.鈥 

The two-day Cultural Investment Conference will feature over 38 panel discussions. AN

The conference, organized by the Ministry of Culture and held at the King Fahd Cultural Center, drew a global audience of investors, cultural leaders, and decision-makers. The event aims to position the Kingdom as a leading destination for cultural investment, a key pillar of its Saudi Vision 2030 economic diversification plan.  

Minister Al-Falih framed the cultural investment as essential to the nation鈥檚 identity and appeal. 鈥淚f you don鈥檛 have a soul as a country and as a society, you鈥檙e a no country. Nobody will want to come and visit,鈥 he said, adding that 鈥淩iyadh and the Kingdom has become a cultural hub,鈥 with the upcoming Riyadh Season event as a prime example. 

This drive is a core component of Saudi Vision 2030鈥檚 Quality of Life Program, which aims to enhance cultural offerings, entertainment, and overall livability for citizens and residents. 

Echoing this sentiment, Faisal Alibrahim, 黑料社区鈥檚 minister of economy and planning, emphasized the strategic priority of the sector.

鈥淔or the Kingdom of 黑料社区, this is pivotal for the first wave of economic diversification that we witnessed,鈥 Alibrahim said. 

He revealed that the cultural sector already employs approximately 235,000 people, with the target being to triple the sector鈥檚 contribution to the economy by 2030, driven significantly by exports. 

Both ministers outlined a collaborative model for growth. Al-Falih described a focused approach to creating a triangle between investment by investors, government support, and government direct investment in the sector, along with the third category, civil society.  

He noted that the Ministry of Investment has already developed 40 specific investment opportunities in the sector, which are listed on the Invest Saudi platform. 

Minister Alibrahim highlighted that in the formative years of Vision 2030, spending on culture was 鈥渆qually as important as, and maybe even more important than鈥 traditional budget items. 

He went on to link cultural development to the Kingdom鈥檚 global reputation, saying: 鈥淧eople remember generosity, and today are seeing an increase in the quality of the user experience when you interact with the Kingdom.鈥 

The minister highlighted the culture sector鈥檚 need for entrepreneurs, not only large corporations. Using South Korea as a model, he explained how its rapid diversification led to a boom in cultural exports, a form of soft power that even inspired Saudis to learn the language. 

Bank of Korea data shows that the country鈥檚 intellectual property exports, which includes music, films, and games, more than tripled over the last decade to reach $9.85 billion in 2024. 

The two-day Cultural Investment Conference, featuring over 38 panel discussions, marks a significant step in 黑料社区鈥檚 strategy to empower its cultural sector as a dynamic economic engine and strengthen its cultural presence on the world stage. 


Inaugural Cultural Investment Conference opens in Riyadh

Inaugural Cultural Investment Conference opens in Riyadh
Updated 14 min 34 sec ago

Inaugural Cultural Investment Conference opens in Riyadh

Inaugural Cultural Investment Conference opens in Riyadh
  • Around 235,000 people are currently employed in the Kingdom鈥檚 cultural sector

RIYADH: The inaugural Cultural Investment Conference opens in Riyadh, with multisectoral representatives from arts practitioners, government officials, investors to diplomats gathering for high-level discussions on culture as a strategic investment.

The two-day event, held under the patronage of Crown Prince Mohammed bin Salman, 鈥渆xplores bold financing models, strategic partnerships, and the evolving role of cultural capital in driving economic growth, national identity, and global influence,鈥 according to the conference website.

Among the key themes to be discussed include new investment opportunities, emerging markets and untapped sectors in the cultural economy, the RoI of culture, financing the future of culture, artificial intelligence and culture, boosting investor confidence and creative entrepreneurship.

Saudi Minister of Culture Prince Badr bin Farhan gives his opening speech. (Abdulrahman Fahad Bin Shulhub/AN)
Saudi Minister of Culture Prince Badr bin Farhan gives his opening speech. (Abdulrahman Fahad Bin Shulhub/AN)
The inaugural Cultural Investment Conference opens in Riyadh. (Abdulrahman Fahad Bin Shulhub/AN)
The inaugural Cultural Investment Conference opens in Riyadh. (Abdulrahman Fahad Bin Shulhub/AN)
The inaugural Cultural Investment Conference opens in Riyadh. (Abdulrahman Fahad Bin Shulhub/AN)
The inaugural Cultural Investment Conference opens in Riyadh. (Abdulrahman Fahad Bin Shulhub/AN)
The inaugural Cultural Investment Conference opens in Riyadh. (Abdulrahman Fahad Bin Shulhub/AN)
The inaugural Cultural Investment Conference opens in Riyadh. (Abdulrahman Fahad Bin Shulhub/AN)
The inaugural Cultural Investment Conference opens in Riyadh. (Abdulrahman Fahad Bin Shulhub/AN)
The inaugural Cultural Investment Conference opens in Riyadh. (Abdulrahman Fahad Bin Shulhub/AN)
Saudi Investment Minister Khalid bin Abdulaziz Al-Falih, center, and Faisal Ali F. Ibrahim, Saudi Minister of Economy and Planning, right, in a high-level discussion with Arab News Editor-in-Chief Faisal J. Abbas. (Abdulrahman Fahad Bin Shulhub/AN)
Saudi Investment Minister Khalid bin Abdulaziz Al-Falih, center, and Faisal Ali F. Ibrahim, Saudi Minister of Economy and Planning, right, in a high-level discussion with Arab News Editor-in-Chief Faisal J. Abbas. (Abdulrahman Fahad Bin Shulhub/AN)
Hamed bin Mohammed Fayez, 黑料社区鈥檚 Vice Minister of Culture, gives his remarks during a high-level session at the inaugural Cultural Investment Conference opens in Riyadh. (Abdulrahman Fahad Bin Shulhub/AN)
Hamed bin Mohammed Fayez, 黑料社区鈥檚 Vice Minister of Culture, gives his remarks during a high-level session at the inaugural Cultural Investment Conference opens in Riyadh. (Abdulrahman Fahad Bin Shulhub/AN)
From left: Faisal J. Abbas, Arab News Editor-in-Chief, Hamed bin Mohammed Fayez, 黑料社区鈥檚 Vice Minister of Culture, Shaikha Mai bin Mohammed Al-Khalifa, Founder and Chairperson, Board of Trustees, Shaikh Ebrahim Center for Culture and Research and Dr. Andreas Gorgen, Ambassador for Multilateral Cooperation during a session at the inaugural Cultural Investment Conference in Riyadh. (Abdulrahman Fahad Bin Shulhub/AN)
From left: Faisal J. Abbas, Arab News Editor-in-Chief, Hamed bin Mohammed Fayez, 黑料社区鈥檚 Vice Minister of Culture, Shaikha Mai bin Mohammed Al-Khalifa, Founder and Chairperson, Board of Trustees, Shaikh Ebrahim Center for Culture and Research and Dr. Andreas Gorgen, Ambassador for Multilateral Cooperation during a session at the inaugural Cultural Investment Conference in Riyadh. (Abdulrahman Fahad Bin Shulhub/AN)

Saudi Investment Minister Khalid bin Abdulaziz Al-Falih, during the opening high-level session, said that the Kingdom today hosts over 50,000 investors, both local and international.

Around 1,700 international investors are engaged in the Kingdom鈥檚 culture sector, including creative industries, arts, events, and entertainment, he said.

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Foreign investments in culture have surged from virtually nothing six or seven years ago to over $500 million (SR1.8 billion) as of last year, growing at double-digit rates, the investment minister added.

Faisal Ali F. Ibrahim, the Saudi Minister of Economy and Planning, meanwhile said that around 235,000 people are currently employed in the Kingdom鈥檚 cultural sector.

 

 

He added that the target is to triple the culture sector鈥檚 contribution to GDP by 2030.

Meanwhile Hamed bin Mohammed Fayez, 黑料社区鈥檚 Vice Minister of Culture, in a separate session, said that cultural tourism alone accounts for 40 percent of global tourism revenue and has proven to be one of the most resilient sectors after COVID-19.


IMF, Pakistan kick off discussions as lender reviews $8.4 billion loan programs聽

IMF, Pakistan kick off discussions as lender reviews $8.4 billion loan programs聽
Updated 29 September 2025

IMF, Pakistan kick off discussions as lender reviews $8.4 billion loan programs聽

IMF, Pakistan kick off discussions as lender reviews $8.4 billion loan programs聽
  • IMF mission arrived in Pakistan last week to hold separate reviews of $7 billion and $1.4 billion loan programs聽
  • Discussions take place as Pakistan eyes concessions in program targets from IMF following devastating floods聽

KARACHI: A visiting International Monetary Fund (IMF) mission kicked off talks with Pakistani officials on Monday as it holds the second review of its $7 billion External Fund Facility (EFF) and first review of the $1.4 billion Resilience and Sustainability Facility (RSF) loan programs for the country, the lender confirmed. 

The IMF mission arrived in Pakistan on Sept. 25 to conduct the reviews. The global lender approved a $7 billion bailout package for Pakistan under its EFF program in September 2024 while in May, it approved a separate $1.4 billion loan for Pakistan as a climate resilience fund. The RSF will support Pakistan鈥檚 efforts in building economic resilience to climate vulnerabilities and natural disasters. 

鈥淔ederal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, chairing the kick-off meeting with the visiting IMF Review Mission at the Finance Division today,鈥 the IMF said in a statement, sharing pictures of the meeting between the two sides. 

The discussion takes place as Pakistan seeks concessions in its program targets following devastating floods that killed over 130 in its eastern Punjab province since late August, impacted over 4.5 million people and destroyed large swathes of crops. The devastation has spiked food prices in many parts of the country, with experts warning of food shortages due to supply chain disruptions. 

Prime Minister Shehbaz Sharif met the fund鈥檚 Managing Director Kristalina Georgieva in New York last week on the sidelines of the ongoing United Nations鈥 General Assembly session. During the meeting, Sharif spoke about Pakistan鈥檚 progress in fulfilling the IMF program targets but also demanded that the impact of recent floods on Pakistan鈥檚 economy 鈥渕ust be factored into the IMF鈥檚 review,鈥

Islamabad has so far received more than $2 billion under the EFF and is expecting a third tranche of $1 billion after the second review concludes successfully.

IMF鈥檚 bailout packages have proven instrumental in keeping Pakistan鈥檚 fragile $350 billion economy afloat, as the country grapples with tough economic conditions that have triggered a balance of payments crisis and weakened its national currency. 

Pakistan has undertaken painful measures in the past, such as removing subsidies that have resulted in higher food and fuel prices, spiking inflation in the country. Pakistani financial experts told Arab News last week they expected the global lender to grant Islamabad concessions as far as its program targets were concerned, in light of the damages inflicted by the recent floods. 

 鈥淲e are expecting Pakistan to get a little breather due to the floods,鈥 economist Sana Tawfik said last week, adding that Islamabad would comfortably meet the international lender鈥檚 targets. 

Shankar Talreja, head of research at brokerage firm Topline Securities Ltd., said the current review will focus on continuing the IMF鈥檚 reforms under revised parameters due to the floods. He said the government is expected to keep pushing for privatization of state-owned enterprises and clearing its old backlog of circular debt.
 
鈥淭he concessions are likely in form of some downward revisions in FBR (Federal Board of Revenue) tax revenue, upward revision in fiscal balance over relief spending and there might a downward adjustment in GDP growth target as well,鈥 Talreja said.