Saudi low-cost airline flyadeal hikes daily flights between Riyadh and Dubai 

The airline has increased the total number of flights operating between King Khalid International Airport and Dubai International Airport to five flights daily. (File)
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Updated 26 May 2023
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Saudi low-cost airline flyadeal hikes daily flights between Riyadh and Dubai 

RIYADH: In order to meet the growing travel demand between Riyadh and Dubai, flyadeal is going to increase daily flights to the emirate, the Saudi Press Agency reported. 

The Kingdom’s low-cost airline has increased the total number of flights operating between King Khalid International Airport and Dubai International Airport to five per day, with an average weekly frequency of 33. 

According to Con Korfiatis, CEO of flyadeal, the new flights between Riyadh and Dubai are part of the company’s strategy to broaden its network and strengthen its position in the UAE market. 

This move boosts the Kingdom’s travel sector by connecting it to more international destinations worldwide and offering quality services to tourists and guests. 

According to the SPA, flyadeal recently announced an increase in destinations to 36 domestic and international sectors by June. 

In June last year, the airline expanded its scope of operations by connecting to Amman in Jordan, Tbilisi in Georgia, Azerbaijan’s Baku, Sharm El-Sheikh in Egypt and Khartoum. 

There are 24 local and international routes in the low-cost airline network.  

According to the CEO, the airline has a young fleet of 24 Airbus 320 aircraft with an average age of just 30 months. 

He added that the airline had reached 15 million passengers in less than five years, which was quite an achievement in the domestic aviation space.


Closing Bell: Saudi main market edges up to 10,745 points 

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Closing Bell: Saudi main market edges up to 10,745 points 

RIYADH: Saudi equities closed higher on Monday, with the Tadawul All Share Index finishing up 135.69 points, or 1.28 percent, at 10,745.45. 

The MSCI Tadawul 30 Index also advanced, rising 22.21 points, or 1.57 percent, to close at 1,436.31, while the Nomu Parallel Market Index slipped 31.80 points, or 0.13 percent, to 23,586.94. 

Market breadth was positive on the main market, with 216 gainers against 42 decliners, while Nomu saw 42 stocks advancing and 36 declining. 

Trading activity picked up, with 261.7 million shares changing hands, while total turnover reached SR5.10 billion ($1.3 billion). 

Among the top performers, Saudi Fisheries Co. led the gains, closing at SR63.90, up SR5.80, or 9.98 percent. Naseej International Trading Co. rose to SR34.94, gaining SR3.16, or 9.94 percent, while Dar Al Arkan Real Estate Development Co. ended at SR16.74, up SR1.16, or 7.45 percent. 

Zahrat Al Waha for Trading Co. added 6.84 percent to close at SR2.50, and Alamar Foods Co. climbed 5.75 percent to SR42.70.  

On the losing side, Al Masar Al Shamil Education Co. fell 4.36 percent to SR23.90, while Saudi Paper Manufacturing Co. declined 2.82 percent to SR62.05.  

United International Holding Co. slipped 2.36 percent to SR153.40, Saudi Aramco Base Oil Co. dropped 2.09 percent to SR98.60, and United Electronics Co. eased 1.90 percent to SR85.00.  

On the announcement front, Mouwasat Medical Services Co. announced that its board has approved the establishment of a new hospital in Riyadh’s Al-Narjis District, with a planned capacity of 280 beds and a total investment cost of SR900 million.  

The project will be financed through a mix of self-funding and long-term Shariah-compliant bank facilities, with further details on timelines and financial impact to be disclosed at a later stage.  

Shares of Mouwasat Medical Services Co. closed at SR67.95, gaining SR1.40, or 2.10 percent. 

Saudi Arabian Mining Co. reported a net addition of 7.8 million ounces of new gold resources following extensive exploration and drilling activities across multiple sites, alongside the identification of new mineralization opportunities in gold and base metals. 

The company noted that the financial impact of these discoveries has yet to be determined and will be assessed in due course.  

Shares of Saudi Arabian Mining Co. closed at SR67.50, up SR3.05, or 4.73 percent.