黑料社区

IATA backs Saudi-led aviation surge amid regional integration push聽

Special IATA backs Saudi-led aviation surge amid regional integration push聽
IATA Aviation Day MENA was held for the first time in 黑料社区. Supplied
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Updated 07 May 2025

IATA backs Saudi-led aviation surge amid regional integration push聽

IATA backs Saudi-led aviation surge amid regional integration push聽

JEDDAH: The Middle East鈥檚 aviation sector is pushing toward greater integration and collaborative innovation, with 黑料社区鈥檚 rapid expansion positioning it as the region鈥檚 benchmark, according to a senior International Air Transport Association official.聽

Kamil Al-Awadhi, IATA鈥檚 regional vice president for Africa and the Middle East, told Arab News that growth in the Gulf Cooperation Council is outpacing all other regions 鈥 and the Middle East could soon lead the global aviation industry.聽

His聽remarks came during IATA Aviation Day MENA 2025 鈥 held for the first time in 黑料社区 in Jeddah from May 6 to 7 鈥 where industry leaders gathered to explore how regional collaboration and harmonized regulation can unlock aviation鈥檚 full potential.聽

Al-Awadhi credited the region鈥檚 resilience to unified political leadership and coordinated aviation strategies.聽

鈥淎fter the COVID-19 pandemic subsided in 2022, airlines in the Middle East resumed smooth operations, as if airports had not been closed at all. In contrast, carriers in Europe and the US struggled for several months to return to normal operations,鈥 he said.聽

Al-Awadhi added: 鈥満诹仙缜 is not only expanding its aviation infrastructure, but it is also investing in its people. This is vital to meet the immediate skills requirements while developing a professional workforce able to deliver on Vision 2030.鈥澛

The official聽acknowledged the region鈥檚 operational strength but pointed to the lack of sufficient stakeholder dialogue. 鈥淭he main goal of this event is to bring the region鈥檚 aviation sectors together to discuss their challenges and collectively work toward improvement,鈥 the IATA official said.聽

Nick Careen, IATA鈥檚 senior vice president for operations, safety, and security, said the Middle East was poised to outpace global air traffic growth over the next two decades. 鈥淟ooking ahead, global air travel is set to grow at 3.3 percent per year for the next 20 years. But the Middle East will grow faster at 4.8 percent,鈥 he said during his keynote.聽

The event took place just days after IATA released its latest global passenger traffic data, showing industry-wide revenue passenger kilometers rose 3.3 percent year-on-year in March, reaching 738.8 billion 鈥 continuing the trend of subdued single-digit growth seen since 2023.聽




Nick Careen, IATA鈥檚 senior vice president for operations, safety, and security. Supplied

Careen emphasized 黑料社区鈥檚 pivotal role in the region鈥檚 aviation transformation. 鈥淭he sector is not just moving forward 鈥 it鈥檚 moving forward at speed. And that should make everyone in this room take notice.鈥澛

He noted that aviation and aviation-related tourism contributed $90.6 billion to the Kingdom鈥檚 gross domestic product 鈥 representing 8.5 percent 鈥 and supported 1.4 million jobs. 鈥淢ore than 62,000 people are directly employed by airlines, and another 79,000 are working in the broader aviation ecosystem. In 2023, 黑料社区 handled over 713,000 tonnes of air cargo,鈥 he said.聽

According to Careen, this progress is being driven by Crown Prince Mohammed bin Salman鈥檚 Vision 2030 plan, which places aviation at the heart of economic diversification and international connectivity. 鈥淲e have seen it in the development of new airports, the digital push, the workforce development, and the launch of national carriers like Riyadh Air,鈥 he said.聽

Abdulaziz bin Al-Duailej, president of the General Authority of Civil Aviation, described the Middle East as an economy worth $9.48 trillion powered by a young population, adding: 鈥淎viation here is not only enabling growth; it is leading transformation through strategic investment and collaboration.鈥澛

He continued: 鈥淏y 2024, passenger traffic across the Middle East exceeded pre-pandemic levels by 9 percent 鈥 more than double the global growth rate. While 黑料社区鈥檚 civil aviation sector recorded a remarkable increase of over 24 percent compared to pre-pandemic levels.鈥澛




Industry leaders gathered in Jeddah. Supplied

The Kingdom鈥檚 growth has been marked by major achievements. In 2024 alone, 黑料社区 handled 128 million passengers, more than 900,000 flights, and 1.2 million tonnes of cargo. The government has ordered 500 new aircraft and attracted 21 new international airlines into its market.聽

鈥淭he Kingdom鈥檚 aviation market is opening rapidly. In the past year alone, 21 new international airlines have entered the Saudi market, and in the first quarter of 2025, foreign carriers carried 63 percent of international passengers,鈥 Al-Duailej said, reaffirming the Kingdom鈥檚 willingness to engage globally to shape the sector鈥檚 future.聽

In its latest press release, IATA outlined three strategic priorities to help 黑料社区 sustain its aviation gains: improving coordination with stakeholders, ensuring cost-effective infrastructure development, and building national talent.聽

鈥淕iven 黑料社区鈥檚 important role in shaping regional aviation policies, continued collaboration and consultation with users and stakeholders, along with alignment to global standards and best practices, are vital,鈥 the organization said.聽

It also emphasized the need for cost-competitiveness. 鈥淎s 黑料社区 makes significant investments in airport infrastructure and digitalization, it is critical to work with the industry to ensure cost competitiveness,鈥 IATA added.聽

On workforce development, the group noted: 鈥淓nsuring a skilled workforce across all areas of aviation will enable the Kingdom to fulfill its potential as a regional and global aviation hub.鈥澛

On the sidelines of the forum, IATA announced new training agreements with Saudi airlines, airports, and academic institutions. In the first phase, more than 1,000 graduates and aviation professionals will be trained in areas such as airport operations, safety, airline management, and ground handling.聽

Riyadh Airports Co. and Qassim University joined IATA鈥檚 network of regional training partners, alongside long-time collaborator Prince Sultan Aviation Academy. Together, the three will deliver over 60 programs covering technical, commercial, and interpersonal skills.聽

鈥淭he renewed agreement enables the academy to offer IATA training courses within the Kingdom and across the GCC region. All operational aviation requirements 鈥 including cabin crew, maintenance, ground services, and business training 鈥 are provided by PSAA,鈥 said Khalid Bawazeer, the academy鈥檚 director of continuous studies, to Arab News.聽

鈥淭his requires preparation to meet the demand for increased training programs, whether conducted internally by the academy or through external courses such as those offered by IATA,鈥 he added.聽

As part of the deal, sector awareness courses will also be offered to graduates of Riyadh Air and Saudia to nurture national talent for future leadership. Specialized Dangerous Goods training will be provided to operational staff from the Saudi Civil Aviation Academy.聽




SAL Logistics Services Co. marks its new agreement at the event. Supplied

In addition, SAL Logistics Services Co. has been accredited as a competency-based training and assessment center, and Saudi Ground Services has renewed its CBTA accreditation.聽

The IATA鈥檚 Careen acknowledged that despite the Kingdom鈥檚 progress, aviation development remains uneven across the Middle East due to persistent geopolitical instability.聽

He pointed to challenges in Yemen, Syria, Iraq, and Lebanon, where conflict and sanctions have suppressed growth. 鈥淲here aviation continues to demonstrate remarkable resilience in the face of political instability, it does far better in countries that are stable, peaceful and open,鈥 the official said.聽

Careen called on governments and regulators to align efforts toward a more integrated and forward-looking aviation environment. 鈥淎 Middle East characterized by open skies, harmonized regulations, and shared innovation,鈥 he said, is critical to long-term success.聽

鈥淭o every government, airline, and civil aviation authority in this room, your success is everyone鈥檚 success. A rising tide lifts all boats, and in this case, all planes,鈥 he said.聽

Ibrahim Al-Omar, director general of Saudia Group, the host of the event, said the forum was a valuable opportunity to showcase how Vision 2030 is reshaping regional aviation.聽

鈥淲ith safety, innovation, and sustainability driving our progress, IATA Aviation Day MENA is a valuable platform to showcase how the Kingdom鈥檚 Saudi Vision 2030 is shaping the future of aviation not only across the Kingdom but the region and beyond,鈥 he said in a statement released a day prior to the event.


Riyadh Air orders up to 50 Airbus A350 jets to expand long-haul fleet聽

Riyadh Air orders up to 50 Airbus A350 jets to expand long-haul fleet聽
Updated 16 June 2025

Riyadh Air orders up to 50 Airbus A350 jets to expand long-haul fleet聽

Riyadh Air orders up to 50 Airbus A350 jets to expand long-haul fleet聽
  • Deal includes 25 firm orders and purchase rights for an additional 25 aircraft
  • A350-1000s will enable long-haul connections ahead of high-profile events

JEDDAH: 黑料社区鈥檚 Riyadh Air has signed a deal to acquire up to 50 Airbus A350-1000 aircraft as it gears up to launch operations later this year. 

The agreement, signed at the 55th Paris Air Show, includes 25 firm orders and purchase rights for an additional 25 aircraft. The deal supports Riyadh Air鈥檚 plan to build a wide-body fleet capable of serving over 100 destinations globally by 2030.  

Owned by the Public Investment Fund, Riyadh Air was unveiled in March 2023 by Crown Prince Mohammed bin Salman as part of 黑料社区鈥檚 strategy to become a global aviation hub by expanding connectivity to over 250 destinations and tripling annual passenger traffic to 330 million. 

In a statement, Yasir Al-Rumayyan, PIF governor and chairman of Riyadh Air, said: 鈥淥ur new national carrier is set to take to the skies in the near future, and as a fundamental element of the Kingdom of 黑料社区鈥檚 infrastructure, will connect our capital city to over 100 international destinations around the globe by 2030.

He added: 鈥淲ith its outstanding range, adding the Airbus A350-1000 to our fleet demonstrates the strategic contribution of Riyadh Air in positioning 黑料社区 as a global aviation hub.鈥 

The A350-1000s, with an operational range exceeding 16,000 km, will enable long-haul connections ahead of high-profile events such as Riyadh Expo 2030 and the FIFA World Cup 2034. 

In April, the airline received its Air Operator Certificate from the General Authority of Civil Aviation, authorizing it to commence flight operations after meeting all regulatory, safety, and operational requirements. 

鈥淩iyadh Air is making significant progress as we move towards our first flight later this year and agreeing this deal for up to 50 Airbus A350-1000 aircraft is an important statement of intent,鈥 said Tony Douglas, CEO of Riyadh Air. 

The airline鈥檚 launch supports 黑料社区鈥檚 broader efforts to diversify its economy. According to the General Authority for Civil Aviation, the aviation industry generated $32.2 billion in tourism receipts and supported more than 958,000 jobs in 2023 鈥 241,000 in aviation and 717,000 in tourism-related sectors. 

鈥淲e play an important role in the evolution of the Saudi aviation ecosystem with the aim to create 200,000 direct and indirect jobs and contribute almost $20 billion to the Kingdom鈥檚 non-oil GDP,鈥 added Douglas. 

The sector is a key pillar of the National Transport and Logistics Strategy, which aims to raise its gross domestic product contribution from 6 percent to 10 percent by 2030. 

Christian Scherer, CEO of commercial aircraft at Airbus, said: 鈥淭his partnership reflects our shared commitment to innovation and decarbonization whilst connecting the vibrant Kingdom of 黑料社区 to the world!鈥  


Closing Bell: TASI gains 135 points after positive market breadth聽

Closing Bell: TASI gains 135 points after positive market breadth聽
Updated 16 June 2025

Closing Bell: TASI gains 135 points after positive market breadth聽

Closing Bell: TASI gains 135 points after positive market breadth聽
  • Market breadth was strongly positive with 223 gainers and 23 fallers
  • Trading activity remained robust with a total value of SR4.87 billion

RIYADH: 黑料社区鈥檚 Tadawul All Share Index closed higher on Monday, advancing 135.45 points, or 1.26 percent, to end at 10,867.04. 

Market breadth was strongly positive with 223 gainers and 23 fallers. Trading activity remained robust with a total value of SR4.87 billion ($1.2 billion), supported by optimism across key sectors. 

Among the top gainers, Red Sea International Co. rose 10 percent to SR36.85, while CHUBB Arabia Cooperative Insurance Co. added 9.98 percent to end at SR33.60.  

National Gypsum Co. and Saudi Enaya Cooperative Insurance Co. gained 9.97 percent and 8.02 percent, respectively, closing at SR19.42 and SR9.29. 

ACWA Power Co. also rose 6.94 percent to close at SR262.00. 

Among the worst performers, MBC Group Co. led losses with a decline of 3.11 percent to close at SR35.80.

Dr. Sulaiman Al Habib Medical Services Group followed, shedding 2.30 percent to settle at SR255, while Gulf Union Alahlia Cooperative Insurance Co. fell 1.63 percent to SR14.52.  

Middle East Specialized Cables Co. ended the session down 1.13 percent at SR30.55, and Dr. Soliman Abdel Kader Fakeeh Hospital Co. edged 0.75 percent lower to SR39.85. 

On the announcement front, ASAS Makeen Real Estate Development and Investment Co. began trading on the Nomu-Parallel Market on June 16, with shares priced at SR80 each. 

The company鈥檚 stock rose 14.38 percent to close at SR91.50 after it confirmed the signing of an SR240 million real estate development agreement with the National Housing Co. 

The stock is subject to daily and static price fluctuation limits of plus or minus 30 percent and 10 percent, respectively. 

The 42-month project includes the construction of 470 residential units in Riyadh and is expected to impact financial results in the fourth quarter following the issuance of the required license. 

ASAS Makeen offered 10 percent of its SR100 million capital, or one million shares, in an initial public offering that was nearly 1,949 percent oversubscribed. 

Tabuk Agricultural Development Co. closed 1.90 percent higher at SR10.18 after announcing it had received the full SR14.85 million operational financing loan from the Agricultural Development Fund.

The two-year facility is secured by a mortgage on the company鈥檚 land and investment shares. 


PIF鈥檚 AviLease to acquire up to 77 Airbus jets in expansion drive鈥

PIF鈥檚 AviLease to acquire up to 77 Airbus jets in expansion drive鈥
Updated 16 June 2025

PIF鈥檚 AviLease to acquire up to 77 Airbus jets in expansion drive鈥

PIF鈥檚 AviLease to acquire up to 77 Airbus jets in expansion drive鈥
  • Order marks first direct deal with Airbus as PIF-owned lessor targets global growth
  • Agreement announced at Paris Air Show

RIYADH: 黑料社区鈥檚 Public Investment Fund-owned AviLease has signed a deal to purchase up to 77 Airbus aircraft, further expanding its next-generation, fuel-efficient fleet to meet rising global demand across passenger and cargo operations.

The agreement, announced at the Paris Air Show, includes 55 A320neo Family aircraft and 22 A350F freighters, with deliveries scheduled through 2033, according to a press release.

This marks AviLease鈥檚 first direct order with Airbus. The move aligns with the goals of the Saudi Aviation Strategy, which targets a rise in annual passenger capacity to 330 million and cargo throughput to 4.5 million tonnes by 2030, while enhancing the Kingdom鈥檚 status as a regional aviation hub.

鈥淭his dual order reinforces AviLease鈥檚 credentials as a leading lessor, and it demonstrates the broad appeal of our products among lessors and their airline customers,鈥 said Benoit de Saint-Exup茅ry, executive vice president of sales for Airbus Commercial Aircraft.

Edward O鈥橞yrne, CEO of AviLease, said: 鈥淲e are proud to establish an Airbus order book, strengthening our position as a full-service, investment grade global lessor. The addition of these latest generation aircraft enhances our ability to offer modern, fuel-efficient fleet solutions to our airline partners in 黑料社区 and around the world.鈥

Benoit de Saint-Exupery, Airbus executive vice president sales of the commercial aircraft business, and Edward O鈥橞yrne, CEO of AviLease, the global aircraft lessor headquartered in 黑料社区, shake hands after a firm order signature for Airbus A350F freighters and A320neo Family aircraft, during the 55th International Paris Airshow at Le Bourget Airport near Paris, France, June 16, 2025. Reuters

The A350F freighters were selected following consultations with local stakeholders and will support 黑料社区鈥檚 expanding air cargo requirements. O鈥橞yrne noted that AviLease has secured delivery slots in line with the Kingdom鈥檚 Vision 2030 goals.

鈥淲e thank our local partners and Airbus for the strong long-term partnership we have established and look forward to placing these aircraft across our valued customer base,鈥 he said.

The A350F, according to Airbus, offers at least 20 percent lower fuel consumption, improved loading capabilities, and extended range.

The new order follows AviLease鈥檚 purchase of 30 Boeing 737 MAX aircraft in May鈥攊ts first direct deal with a manufacturer鈥攂ringing its total new aircraft orders within two months to 107.

鈥淚n less than two months, AviLease has signed two major deals, reflecting its long-term ambition to become a top 10 global player in aircraft leasing and to strengthen its position as a national champion,鈥 said Fahad Al-Saif, chairman of AviLease.

As of March 31, AviLease had a portfolio of 200 aircraft leased to 48 airlines around the world.

In April, the firm secured a $1.5 billion unsecured revolving credit facility to support its global expansion. The three-year facility attracted commitments from 20 international banks, including eight new lenders from Europe, Asia, and North America.

The company holds investment-grade ratings of Baa2 (stable) from Moody鈥檚 Ratings and BBB (stable) from Fitch Ratings.


OPEC sees solid 2nd-half of 2025 for world economy, trims 2026 supply

OPEC sees solid 2nd-half of 2025 for world economy, trims 2026 supply
Updated 16 June 2025

OPEC sees solid 2nd-half of 2025 for world economy, trims 2026 supply

OPEC sees solid 2nd-half of 2025 for world economy, trims 2026 supply

LONDON/MOSCOW: OPEC said on Monday it expected the global economy to remain resilient in the second half of this year despite concerns about trade conflicts and trimmed its forecast for growth in oil supply from producers outside the wider OPEC+ group in 2026.

In a monthly report, the Organization of the Petroleum Exporting Countries left its forecasts for global oil demand growth unchanged in 2025 and 2026, after reductions in April, saying the economic outlook was robust despite trade concerns.

鈥淭he global economy has outperformed expectations so far in the first half of 2025,鈥 OPEC said in the report.

鈥淭his strong base from the first half of 2025 is anticipated to provide support and sufficient momentum into a sound second half of 2025. However, the growth trend is expected to moderate slightly on a quarterly basis.鈥

OPEC also said supply from countries outside the Declaration of Cooperation 鈥 the formal name for OPEC+ 鈥 will rise by about 730,000 barrels per day in 2026, down 70,000 bpd from last month鈥檚 forecast.

Lower supply growth from outside OPEC+, which groups the Organization of the Petroleum Exporting Countries plus Russia and other allies, would make it easier for the wider group to balance the market. Rapid growth from US shale and from other countries has weighed on prices in recent years. (


PIF earns perfect score on Global SWF Index聽

PIF earns perfect score on Global SWF Index聽
Updated 16 June 2025

PIF earns perfect score on Global SWF Index聽

PIF earns perfect score on Global SWF Index聽
  • Saudi fund led the group within EMEA
  • It was the only Middle Eastern institution to reach a perfect score

RIYADH: 黑料社区鈥檚 Public Investment Fund earned a perfect score in the 2025 Global SWF Index, ranking it among just nine sovereign wealth funds worldwide for top governance, sustainability, and resilience.

The report from the sovereign investor benchmarking firm evaluates 200 of the world鈥檚 largest state-owned investment institutions across 25 indicators.

PIF鈥檚 flawless score this year marks a major milestone in its institutional development, following steady progress from 92 percent in 2023 to 96 percent in 2024. In contrast, the Saudi fund scored just 28 percent in 2020, according to Global SWF data.

In 2025, only nine sovereign investors globally achieved a full 100 percent score. Of those, three were based in the Europe鈥揗iddle East鈥揂frica region: PIF, Ireland鈥檚 National Treasury Management Agency, and Nigeria鈥檚 Sovereign Investment Authority. 

The Saudi fund led the group within EMEA and was the only Middle Eastern institution to reach a perfect score.

With over $925 billion in assets under management, PIF is a cornerstone of 黑料社区鈥檚 Vision 2030, investing across strategic sectors. Shutterstock

The 2024 report described PIF as 鈥渃ontinuing to lead the charge,鈥 highlighting that the fund voluntarily publishes an allocation and impact report as well as a self-assessment aligned with the Santiago Principles, despite not being a member of the International Forum of Sovereign Wealth Funds.

PIF鈥檚 sustainability strategy operates within the Kingdom鈥檚 broader drive for spending efficiency, a theme highlighted in a March analysis by PwC and Consultancy鈥疢E. 

The report noted that public funds, anchored by institutions like PIF, are now being redirected toward high-impact sectors such as healthcare, tourism, and logistics, as well as artificial intelligence, combining fiscal prudence with strategic vision.

Moreover, a Strategy& whitepaper outlined how the nation is investing heavily in its energy transition 鈥 targeting approximately $235 billion toward renewables by 2030 and embedding efficiency mandates for state utilities 鈥 to support its net-zero ambitions and long-term economic resilience.

This alignment of sustainable investment and cost discipline reinforces PIF鈥檚 role in delivering value-driven transformation in line with Vision 2030.

The fund鈥檚 elevation to the top tier was driven by enhanced climate-risk disclosures, the launch of a dedicated sustainability report, strengthened board oversight, and the implementation of comprehensive business continuity frameworks.

These changes helped it secure full marks in all 25 areas of the GSR Scoreboard 鈥 10 for governance, 10 for sustainability, and 5 for resilience.

With over $925 billion in assets under management, PIF is a cornerstone of 黑料社区鈥檚 Vision 2030, investing across strategic sectors, including tourism and logistics, as well as AI and renewable energy. Its strong transparency credentials and environmental, social and governance alignment have helped it build trust with global partners and signal its readiness for large-scale cross-border investment.

According to the 2024 PIF Effect report, the fund鈥檚 strategic projects, ranging from green bond issuances to renewable energy infrastructure, have generated a significant impact throughout 黑料社区 and the world, enhancing local job creation, technology transfer, and environmental outcomes.

A February analysis by Consultancy鈥疢E underscored how the Kingdom鈥檚 broader focus on 鈥渟pending efficiency is driving growth and building resilience,鈥 with PIF playing a central role by prioritizing cost-effective, high-impact initiatives aligned with Vision鈥2030 objectives.

The full 2025 GSR report will be released on July 1.