RIYADH: Emirati carrier Air Arabia will continue operating flights to Russia as long as it is legal, said Air Arabia CEO Adel Ali.
However, Ali made it clear that the airline currently has no plans to operate additional services to Russia, reported Reuters.
“We as an airline operate to whichever airport that’s open for business and people are traveling. Our job is to connect people and as long as it is open, we will do that within the law. The moment legally we can’t fly to somewhere, we stop flying,” said Ali, while talking to reporters at a conference in Ras Al-Khaimah, UAE.
According to the Air Arabia CEO, it is too early to say how sanctions on Russia are going to impact operations there. He, however, said the suspension of flights to Ukraine will not have a significant impact on the airline.
The CEO said he is not concerned about the current surge in oil prices.
Air Arabia to continue operating flights to Russia as long as it is legal, says CEO
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Air Arabia to continue operating flights to Russia as long as it is legal, says CEO
Closing Bell: Saudi main index closes in red at 10,847
RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Wednesday, losing 58.51 points, or 0.54 percent, to close at 10,847.93.
The total trading turnover of the benchmark index was SR3.78 billion ($1 billion), as 73 of the listed stocks advanced, while 187 retreated.
The MSCI Tadawul Index decreased, down 7.09 points or 0.48 percent, to close at 1,472.98.
The Kingdom’s parallel market Nomu lost 178.75 points, or 0.77 percent, to close at 22,916.83. This comes as 30 of the listed stocks advanced, while 37 retreated.
The best-performing stock was the Power and Water Utility Co. for Jubail and Yanbu, with its share price surging by 8.47 percent to SR31.24.
Other top performers included Saudi Paper Manufacturing Co., which saw its share price rise by 6.13 percent to SR53.70, and Jamjoom Pharmaceuticals Factory Co., which saw a 4.58 percent increase to SR137.
On the downside, the worst performer of the day was CHUBB Arabia Cooperative Insurance Co., whose share price fell by 5.14 percent to SR17.53.
Saudi Kayan Petrochemical Co. and Arabian Internet and Communications Services Co. also saw declines, with their shares dropping by 4.87 percent and 4.43 percent to SR4.88 and SR181.40, respectively.
On the announcement front, Saudi Kayan Petrochemical Co. announced its annual financial results for 2025, with sales dropping 3.06 percent year-on-year to SR8.45 billion. The company also recorded a net loss of SR893.86 million.
In a Tadawul statement, the company said the net loss and decline in annual sales were driven by a drop in average selling prices, despite higher sales volumes.
