Ghosn flight ‘will harm Turkey’s jet sector’

TC-TSR, a private jet which was used during the escape of ousted Nissan chairman Carlos Ghosn from Japan to Lebanon through Turkey is pictured in an unknown location, July 5, 2019. (Reuters)
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Updated 05 January 2020
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Ghosn flight ‘will harm Turkey’s jet sector’

  • The former Nissan chief flew in secret from Osaka to Istanbul, and from there to Beirut
  • The private jet sector will suffer because of the breach of security, an expert says

JEDDAH: Fugitive businessman Carlos Ghosn’s escape from Japan to Lebanon via Istanbul is a “serious blow” to Turkey’s private jet industry, aviation experts said on Sunday.

The former Nissan chief was awaiting trial on charges of misusing company funds and understating his salary, but jumped bail on Dec. 30. He flew in secret from Osaka to Ataturk Airport in Istanbul, and from there to Beirut.

“Smuggling this man from Osaka is an internal matter for Japan,” a Turkish aviation expert told Arab News. “But not checking him appropriately in Turkey is our own mistake, and compromised international aviation security.” 

Turkish authorities are investigating a flight from Osaka that landed in Istanbul at 5.15am, and another that left for Beirut 45 minutes later. 

 “The pilot should notify authorities about everyone on the aircraft, and they should be checked in at the international transit section of the airport,” the expert said. “There are no exceptions.”

The private jet sector will suffer because of the breach of security, the expert said. “It will have big repercussions in the short term. Many business jets will now have to undergo a detailed examination once they reach Western airports. 

“They may also have their flight permissions denied for a certain time because they have lost their prestige and reliability.”

About 100 jets operate in Turkey’s private aviation industry. “This incident will seriously undermine the sector,” the expert said.

The Wall Street Journal reported that Ghosn was assisted by a former US special forces operative, Michael Taylor, now working as a private security contractor, who it described as an “expert in the art of clandestine getaways.”
According to the Journal, the Turkish investigation showed that Taylor and another man had traveled from Dubai to Osaka with two large black cases aboard a private jet on Saturday, the day before Ghosn escaped.


Closing Bell: Saudi main index closes in red at 11,167 

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Closing Bell: Saudi main index closes in red at 11,167 

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday as it shed 214.60 points, or 1.89 percent, to close at 11,167.48.  

The total trading turnover of the benchmark index stood at SR4.44 billion ($1.18 billion), with 33 of the listed stocks advancing and 227 declining.  

The Kingdom’s parallel market Nomu also shed 175.96 points, or 0.74 percent, to close at 23,734.90.  

The MSCI Tadawul Index declined by 2.12 percent to 1,502.98.  

The best-performing stock on the main market was The Mediterranean and Gulf Insurance and Reinsurance Co., as its share price increased by 7.33 percent to SR14.50.  

The share price of Thob Al Aseel Co. rose by 2.97 percent to SR3.81.  

Middle East Pharmaceutical Industries Co. also saw its stock price climb by 2.60 percent to SR114.60.  

Conversely, the share price of Almasane Alkobra Mining Co. declined by 9.93 percent to SR105.20.  

On Sunday, Saudi Arabia’s stock market opened to all categories of foreign investors, allowing direct investments in the main market.  

This followed an announcement made by the Capital Market Authority in January, which included the removal of restrictions such as the Qualified Foreign Investor framework, which required a minimum of $500 million in assets under management, and the abolition of swap agreements. 

On the announcements front, Arab National Bank revealed that its net profit reached SR5.11 billion in 2025, representing an increase of 3.02 percent compared to the previous year.  

According to a Tadawul statement, the financial institution attributed the rise in net profit to an increase in net special commission income, net fee and commission income, as well as dividend income.  

ANB added that the profits were also supported by net gains on FVSI financial instruments, net exchange income and net trading income.  

The share price of ANB edged down by 1.75 percent to SR22.40.