Wizz Air launches cheap flights between London, Jeddah

Wizz Air launches cheap flights between London, Jeddah
Tickets to Jeddah have gone on sale at £135 ($176.5), with each flight to carry up to 239 passengers. (AFP)
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Updated 01 October 2024
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Wizz Air launches cheap flights between London, Jeddah

Wizz Air launches cheap flights between London, Jeddah
  • Overnight route will run daily using new Airbus long-haul A321XLR planes
  • The route will launch in March, with tickets already on sale for £135

LONDON: People in the UK will be able to reach Saudi Arabia for significantly reduced prices after budget carrier Wizz Air launched new flights from London.

The seven-hour overnight route will run from March 2025, connecting Gatwick Airport to Jeddah on new Airbus A321XLR aircraft. The carrier will also run a route to Abu Dhabi from the Italian city of Milan from June.

Tickets to Jeddah have gone on sale at £135 ($176.5), with each flight to carry up to 239 passengers.

The airline said some flights will be cheaper at $116.99 and run daily all year round, adding that they will connect “two vibrant cities.”

At a press conference in Jeddah, Andras Rado, Wizz Air’s head of communications and government affairs, said: “The Airbus A321XLR is the most cost-efficient aircraft of its class and, given the enhanced range capability, it enables Wizz Air to connect the furthest destinations in its network and further expand it, connecting cultures and continents.

“We’re excited to unlock unbeatable fares for our customers on the newly announced route to London, while offering the most sustainable option for flying … This new aircraft type marks a new era of ultra-low-fare travel on long-haul routes.”

Wizz Air will become one of the first operators of the new Airbus model, alongside Aer Lingus and Iberia, and has ordered 47 of the planes.

It is the furthest ranged of Airbus’s A320 aircraft, with a range of 8,700 km, and emits 30 percent fewer carbon emissions than its Boeing 757 and 767 competitors.

Stewart Wingate, CEO of Gatwick Airport, said the new model should help open more long-haul routes for the travel hub.

Wizz Air hopes that the new route to Jeddah will undercut British Airways. In a press release, Wizz Air said it “remains committed to expanding its presence in Saudi Arabia and beyond.”

The airline added that it is “contributing to the country’s connectivity in line with Vision 2030 and following a partnership agreement with the Saudi Tourism Authority to increase connectivity to Europe and boost inbound visitors.”


Saudi Arabia’s Red Sea Global eyes IPO, REITs as resort openings gain pace

Saudi Arabia’s Red Sea Global eyes IPO, REITs as resort openings gain pace
Updated 20 August 2025
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Saudi Arabia’s Red Sea Global eyes IPO, REITs as resort openings gain pace

Saudi Arabia’s Red Sea Global eyes IPO, REITs as resort openings gain pace
  • Shoura Island will welcome guests this year at 11 luxury resorts
  • Construction at the wellness-focused Amaala project is progressing rapidly

RIYADH: Saudi Arabia’s Red Sea Global is considering a range of alternative financing options in the near future, including an initial public offering or converting assets into real estate investment trusts, according to its chief executive officer.

Speaking to Al-Eqtisadiah, John Pagano said no final decisions have been made, but emphasized the company’s focus on leveraging current momentum, with resorts now operational and more hotel openings expected this year.

Shoura Island, the flagship of the Red Sea destination, will welcome guests this year at 11 luxury resorts operated by global hospitality brands, including Rosewood, Four Seasons, Grand Hyatt, EDITION, and Raffles.

Construction at the wellness-focused Amaala project is also progressing rapidly, with core infrastructure complete and its first hotels nearing launch, Pagano said.

Six resorts have opened under the Red Sea destination so far, including Desert Rock and Shebara, which are fully owned and operated by Red Sea Global. The exclusive Thuwal Private Retreat has also been unveiled as the company’s third destination.

Red Sea Global has also launched residential offerings on Shoura and Ummhat islands, in addition to announcing Lahak Island earlier this year, which drew strong local and international attention, he said.

Amaala is set to open by year-end and will feature wellness and hospitality brands such as Jayasom, Six Senses, Rosewood, Equinox, and Clinique La Prairie. The destination aims to deliver experiences centered on healing, exploration, and renewal.


Saudi matcha imports surge 900% as demand reshapes Kingdom’s cafe sector

Saudi matcha imports surge 900% as demand reshapes Kingdom’s cafe sector
Updated 20 August 2025
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Saudi matcha imports surge 900% as demand reshapes Kingdom’s cafe sector

Saudi matcha imports surge 900% as demand reshapes Kingdom’s cafe sector

RIYADH: Saudi Arabia’s imports of Japanese matcha skyrocketed by nearly 900 percent in 2023 to 81,000 kilograms at a value at SR9 million ($2.40 million), up from just 9,000 kilograms in 2022, highlighting the rapid expansion of the drink’s market presence across the Kingdom.

The momentum continued into 2024, with imports totaling 46,000 kilograms worth SR7 million, reflecting sustained consumer demand and the growing role of matcha in the Kingdom’s cafe sector, Al-Eqtisadiah reported.

Cafes are capitalizing on the trend, with Jon & Vinny’s in Riyadh reporting weekend sales of 350 matcha cups per branch, making up 22 percent of beverage revenues, according to Al-Eqtisadiah.

The cafe uses a premium Japanese blend priced at SR1,200 per kilogram. Similarly, Pro 92 Cafe said matcha lattes alone contribute 10.5 percent of total sales, consuming over 150 kilograms of matcha monthly across branches.

The broader green tea category — which includes matcha — accounted for SR74 million in Saudi imports in 2024, totaling 2.3 million kilograms. In comparison, 2023 saw 2.5 million kilograms imported at a value of SR79 million, Al-Eqtisadiah reported.

Cups of matcha are sold at prices ranging from SR16 to SR29, depending on the outlet. This price variation has spurred a growing home-preparation market, with local Instagram-based businesses selling matcha kits priced between SR110 and SR180.

Driven by health-conscious consumers and youth interest in Japanese culture, matcha is carving out a permanent share in the Kingdom’s beverage landscape.


Closing Bell: Saudi main index ends lower at 10,878

Closing Bell: Saudi main index ends lower at 10,878
Updated 20 August 2025
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Closing Bell: Saudi main index ends lower at 10,878

Closing Bell: Saudi main index ends lower at 10,878
  • MSCI Tadawul Index fell 0.02%, to close at 1,406.62
  • Parallel market Nomu lost 0.52% to end at 26,629.95

RIYADH: Saudi Arabia’s Tadawul All Share Index edged down on Wednesday, slipping 3.64 points, or 0.03 percent, to close at 10,878.07. 

The benchmark’s total trading turnover stood at SR4.21 billion ($1.12 billion), with 95 stocks advancing and 148 declined. 

The MSCI Tadawul Index also dipped, falling 0.24 points, or 0.02 percent, to 1,406.62. 

The Kingdom’s parallel market Nomu lost 139.91 points, or 0.52 percent, to close at 26,629.95, as 35 stocks advanced and 55 retreated. 

Thimar Development Holding Co. was the session’s top performer, rising 4.47 percent to SR41.10. 

Al-Jouf Agricultural Development Co. climbed 3.4 percent to SR45.64, and Power and Water Utility Co. for Jubail and Yanbu gained 2.41 percent to SR40.80. 

Alistithmar AREIC Diversified REIT Fund recorded the steepest drop, falling 4.50 percent to SR8.06. Retal Urban Development Co. declined 3.95 percent to SR13.14, while Zamil Industrial Investment Co. slipped 2.94 percent to SR37.66. 

In corporate announcements, Sama Healthy Water Factory Co. reported a 27.19 percent decline in first-half 2025 net profit to SR3.51 million, compared with SR4.82 million a year earlier. 

In a Tadawul statement, the company attributed the fall mainly to unrealized foreign exchange losses, though it said core operational profit rose 23 percent on the back of higher sales and improved margins following the integration of a new raw material production line. 

Its share price fell 1.29 percent to SR2.29.  

View United Real Estate Development Co. posted a 132.11 percent increase in net profit for the first half of the year, reaching SR9.97 million versus SR4.30 million in the same period last year. 

The company cited a 104.77 percent jump in revenue, driven by stronger performance across most business segments, alongside the positive impact of off-plan and land sales, according to a Tadawul statement. 

Its shares, however, slipped 0.95 percent to SR6.24. 

Al Rashid Industrial Co. registered a 22.88 percent rise in first-half net profit to SR21.47 million, compared with SR17.47 million in the previous year. 

The company said the increase reflected stronger top-line performance and a 21.78 percent jump in gross operating profit, highlighting improved efficiency. 

Its stock advanced 9.18 percent to SR53.50. 


PIF launches ‘azm’ program to equip Saudis for labor market needs

PIF launches ‘azm’ program to equip Saudis for labor market needs
Updated 20 August 2025
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PIF launches ‘azm’ program to equip Saudis for labor market needs

PIF launches ‘azm’ program to equip Saudis for labor market needs
  • Program aims to create pipeline of technically skilled Saudis to meet PIF’s investment needs
  • It will offer tailored training at competitive costs

JEDDAH: Saudi Arabia’s Public Investment Fund launched a strategic program designed to build skills, address labor market needs, and support economic diversification to boost national talent. 

The “azm” workforce development program was unveiled at a signing ceremony attended by Education Minister Yousef Al-Benyan and PIF Governor Yasir Al-Rumayyan, alongside partners from the Technical and Vocational Training Corp., Colleges of Excellence, Human Resources Development Fund, and Roshn Group. 

The launch underscores PIF’s role in advancing Vision 2030, Saudi Arabia’s plan to transition to a knowledge-based economy and reduce reliance on oil revenues. 

In a post on its official X account, PIF said it launched “the ‘azm’ program to empower national talents and equip them with the expertise and skills required by the labor market, thereby contributing to building a stronger and more diverse national economy, through a signing ceremony that included the program’s partners.” 

According to the sovereign wealth fund, azm aims to create a pipeline of technically skilled Saudis to meet the needs of PIF’s investments, portfolio companies, and ecosystem partners. It focuses on employer-driven skill development, with 80 percent of training based on hands-on, real-world applications. 

Under the program, PIF signed memoranda of understanding with TVTC and the Colleges of Excellence to manage and deliver training. The agreements cover curriculum development, contracting with local and international providers, overseeing registration and evaluation, and operating training facilities. 

“Future cooperation between Colleges of Excellence and the fund includes launching an academic entity under the azm program to serve as a specialized training body in developing technical and professional skills for Saudi youth,” the Colleges of Excellence posted on its X account.

The fund said azm will offer tailored training at competitive costs, apply rigorous learner selection, and provide financial incentives to cover tuition. Employers partnering with the program will gain access to a job-ready Saudi workforce trained to their specifications. 

PIF said azm leverages its existing experience in delivering training across portfolio companies and taps into a broad network of local and international providers. It also benefits from strong ties with accreditation bodies and access to government funding mechanisms for workforce development.


Saudi Arabia clears VistaJet as first foreign private jet operator 

Saudi Arabia clears VistaJet as first foreign private jet operator 
Updated 20 August 2025
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Saudi Arabia clears VistaJet as first foreign private jet operator 

Saudi Arabia clears VistaJet as first foreign private jet operator 

JEDDAH: Malta-based VistaJet is set to become the first foreign private jet operator allowed to fly domestic routes in Saudi Arabia, after regulators lifted cabotage restrictions to liberalize the Kingdom’s skies. 

VistaJet’s approval comes less than four months after Saudi regulators, on May 1, scrapped rules that had barred international charter operators from offering domestic services — a move aimed at stimulating competition, improving service quality, and expanding the private aviation segment. 

The decision, announced by the General Authority of Civil Aviation, marks a major step in liberalizing Saudi Arabia’s general aviation market as the Kingdom works to attract global investment and boost competitiveness under its Vision 2030 economic transformation plan. 

Awad Al-Sulami, executive vice president for economic policies and logistics services at GACA, said: “Authorizing VistaJet as the first international private jet operator for domestic operations in the Kingdom is a milestone in enhancing the general aviation market in Saudi Arabia.” 

He added: “This step will foster greater competition, stimulate sector growth, and raise the quality of services for private aviation customers in the Kingdom and across the region.” 

VistaJet, which operates under a Maltese air operator certificate and is part of Dubai-headquartered Vista Global Holding, welcomed the decision as a breakthrough for the sector. 

“We are delighted to be working with the Kingdom of Saudi Arabia and GACA, reinforcing our commitment to offering clients reliable, flexible and trusted flying solutions through our global and regional infrastructure,” said Mazen Obaid, president — Middle East at Vista. 

He added: “As a Saudi myself, I am extremely proud and excited for this new venture, and of all the opportunities that I know we can achieve together. We very much look forward to hiring many local experts and investing locally.” 

The move supports GACA’s General Aviation Roadmap under the National Transport and Logistics Strategy, which seeks to position Saudi Arabia as the Middle East’s top aviation hub by 2030 and a global logistics connector between Asia, Africa, and Europe.