IATA’s head optimistic about airlines recovery as early as next year

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Willie Walsh - Director General, International Air Transport Association (IATA) speaking to Arab News. (AN photo)
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International Air Transport Association director general, Willie Walsh speaking at FAF event in Riyadh. (AN photo)
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Updated 14 May 2022
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IATA’s head optimistic about airlines recovery as early as next year

RIYADH: The aviation sector is poised to see a full recovery to the pre-pandemic levels as early as next year, according to International Air Transport Association director general, Willie Walsh. 

The recovery in the travel market is ongoing and it may take another year or two to see it fully back to where it was in 2019, he told Arab News in an interview on the sidelines of Future Aviation Forum in Riyadh.

Walsh believed that policies — such as the one Saudi Arabia proposed at the forum — aimed at facilitating movement of people and harmonizing the different health policies in different countries will play a big role in accelerating the recovery.

Talking on the impact of high oil prices on the recovery, Walsh said that this is not the first time the industry faced such a challenge and that demand for traveling wasn't affected in the past due to the high cost of fuel.

Airlines always know how to find a way to operate and make profit in any cost environment, he added.

Walsh noted that soaring energy prices are one of the most difficult challenges the aviation sector is facing, as it tries to come out of the economic slump caused by the pandemic — with consumers paying higher ticket prices. 

The IATA director general revealed that the airline industry is committed to achieving net-zero by 2050, despite the challenges this involves. 

Sounding a cautionary note, he made it clear that these initiatives would cost a lot of money, and would need greater commitment from the financial community to allocate funding to help achieve this target.

Earlier in the forum, He said the aviation sector has slowed due to China’s zero-Covid policy, which is impossible to achieve.

Walsh made the remarks while speaking at the Future Aviation Forum in Riyadh on May 9. 

While the use of hydrogen as aviation fuel has been much talked about in recent months, Walsh indicated that a complex process was involved to achieve this.

He said countries should initially develop aircraft engines that can use this energy source.


Closing Bell: Saudi main index closes in red at 11,183

Updated 16 February 2026
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Closing Bell: Saudi main index closes in red at 11,183

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 44.79 points, or 0.4 percent, to close at 11,183.85.

The total trading turnover of the benchmark index was SR4.05 billion ($1.08 billion), as 69 of the listed stocks advanced, while 191 retreated.

The MSCI Tadawul Index decreased, down 6.63 points or 0.44 percent, to close at 1,504.73.

The Kingdom’s parallel market Nomu lost 328.20 points, or 1.36 percent, to close at 23,764.92. This comes as 22 of the listed stocks advanced, while 49 retreated.

The best-performing stock was Maharah Human Resources Co., with its share price surging by 7.26 percent to SR6.50.

Other top performers included Arabian Cement Co., which saw its share price rise by 6.27 percent to SR22.71, and Saudi Research and Media Group, which saw a 4.3 percent increase to SR104.30.

On the downside, the worst performer of the day was Arabian Internet and Communications Services Co., whose share price fell by 8.01 percent to SR207.80.

Jahez International Co. for Information System Technology and Al-Rajhi Co. for Cooperative Insurance also saw declines, with their shares dropping by 5.61 percent and 4.46 percent to SR12.79 and SR75, respectively.

On the announcement front, Etihad Etisalat Co. announced its financial results for 2025 with a 7.9 percent year-on-year growth in its revenues, to reach SR19.6 billion.

In a Tadawul statement, Mobily said that this growth is attributed to “the expansion of all revenue streams, with a healthy growth in the overall subscriber base.”

Mobily delivered an 11.6 percent increase in net profit, reaching SR3.4 billion in 2025 compared to SR3.1 billion in 2024.

The company’s share price reached SR67.85, marking a 0.37 percent increase on the main market.