Saudi Arabia to host Future Aviation Forum on May 9

Saudi Arabia plans to build a major new international airport in Riyadh (Shutterstock)
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Updated 04 May 2022
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Saudi Arabia to host Future Aviation Forum on May 9

RIYADH: With international air travel having resumed post-pandemic, Saudi Arabia will host the inaugural Future Aviation Forum on May 9.

The two-day event in Riyadh will unite leaders from the public and business sectors with international CEOs and regulators, as the aviation industry aims to resolve post-pandemic issues and shape future international air travel.

The forum hosted by the General Authority of Civil Aviation, also known as GACA, will feature more than 120 speakers, with over 2,000 attendees and representatives from various countries.

“The Future Aviation Forum will be a pivotal moment for the global aviation sector,”  said Saleh bin Nasser Al-Jasser, Saudi Arabia’s minister of transport and logistics.

He added: “We will bring together the brightest minds from around the world to forge solutions for how the sector can recover from the Covid-19 pandemic, transform the passenger experience, and invest in innovations that will lower carbon emissions and reduce environmental impact.”

Saudi Arabia is hosting the Future Aviation Forum at a time when the Kingdom is planning to launch a new national airline to complement its existing national carriers, Saudia, Flynas and Flyadeal.





The Future Aviation Forum will be a pivotal moment for the global aviation sector.

Saleh bin Nasser Al-Jasser, Saudi Arabia’s minister of transport and logistics.

The Kingdom also plans to build a major new international airport in Riyadh, in addition to eight new regional airports.

Salvatore Sciacchitano, president of the International Civil Aviation Organization, said: “I look forward to the coming together of the industry’s top leaders in Riyadh at the Future Aviation Forum, where we can collaborate to drive the ambition, innovation and policymaking needed to ensure a promising future for the industry.”

GACA President Abdulaziz Al-Duailej noted that the Future Aviation Forum will facilitate business deals and mobilize the investment needed to propel the industry into the future.

The scale of opportunity for the aviation world in Saudi Arabia is unprecedented.

GACA President Abdulaziz Al-Duailej

“The Future Aviation Forum is an opportunity to participate from the outset in Saudi Arabia’s rapid emergence as the Middle East’s preeminent aviation hub.”

 


Closing Bell: Saudi main index rises to close at 11,251 

Updated 12 February 2026
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Closing Bell: Saudi main index rises to close at 11,251 

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Thursday, gaining 84.27 points, or 0.75 percent, to close at 11,251.81. 

The total trading turnover of the benchmark index was SR5.38 billion ($1.43 billion), as 188 of the stocks advanced and 67 retreated.    

Similarly, the Kingdom’s parallel market Nomu gained 157.22 points, or 0.67 percent, to close at 23,643.74. This comes as 44 of the stocks advanced while 32 retreated.    

The MSCI Tadawul Index gained 10.88 points, or 0.72 percent, to close at 1,517.43.     

The best-performing stock of the day was Saudi Kayan Petrochemical Co., whose share price surged 9.96 percent to SR5.30.   

Other top performers included Ataa Educational Co., whose share price rose 9.94 percent to SR57.50, as well as Rabigh Refining and Petrochemical Co., whose share price surged 5.74 percent to SR7.55. 

Saudia Dairy and Foodstuff Co. recorded the most significant drop, falling 5.93 percent to SR220.50. 

Abdullah Saad Mohammed Abo Moati for Bookstores Co. also saw its stock prices fall 2.77 percent to SR43.56. 

Zahrat Al Waha for Trading Co. also saw its stock prices decline 2.30 percent to SR2.55. 

On the announcement front, Multi Business Group Co. reported its annual financial results for the year ended Dec. 31. According to a Tadawul statement, the firm recorded a net profit of SR352,172 during the year, down 98 percent from the previous year. 

The company attributed the decline primarily to a 2 percent drop in building contracting revenues and a 73 percent decrease in gross profit.  

Multi Business Group Co. ended the session at SR9.90, down 1 percent. 

Hamad Mohammed Bin Saedan Real Estate Co. announced the signing of a memorandum of understanding with Saudi Awwal Bank to enhance collaboration in financing solutions, advance real estate development projects, and expand access to customer financing programs. 

Hamad Mohammed Bin Saedan Real Estate Co. ended the session at SR6.67, up 1.21 percent.