Latest news with #NationalAviationStrategy
Saudi Gazette
6 days ago
- Business
- Saudi Gazette
GACA: Riyadh airport emerges topper with a compliance rate of 90%
Saudi Gazette report RIYADH — The General Authority of Civil Aviation (GACA) issued on Saturday its April 2025 report on airport and national carrier compliance with flight schedules, naming King Khalid International Airport in Riyadh as the top performer in the first category of international airports handling over 15 million passengers annually. The Riyadh airport recorded a compliance rate of 90 percent. King Fahd International Airport in Dammam, Abha International Airport, NEOM International Airport, Turaif Airport, and Wadi Al-Dawasir Airport are also among the top performers across five categories. The report evaluates performance based on flights departing or arriving within 15 minutes of their scheduled time, aiming to give travelers a clear view of how well airlines and airports adhere to schedules, while also supporting efforts to improve service quality and enhance the overall travel experience. In the second category of international airports handling between 5 million and 15 million passengers annually, King Fahd International Airport in Dammam took the top spot with 87 percent. In the third category of international airports with 2 million to 5 million passengers annually, Abha International Airport ranked first with a 91 percent compliance rate. NEOM International Airport led the fourth category, for international airports with fewer than 2 million passengers annually, achieving 95 percent compliance. In the fifth category of domestic airports, Turaif Airport and Wadi Al-Dawasir Airport both ranked first with a perfect 100 percent compliance rate. At the airline level, Saudia achieved an 89 percent on-time arrival rate and an 89 percent on-time departure rate. Flynas recorded 86 percent for arrivals and 91 percent for departures, while flyadeal posted 87 percent for arrivals and 91 percent for departures. Highlighting the top-performing domestic and international routes, the report showed that the Riyadh–Abha route achieved a 96 percent on-time performance among domestic flights, while the Riyadh–Amman route ranked first internationally with a 97 percent compliance rate. These efforts align with the objectives of the National Aviation Strategy, which seeks to boost the Kingdom's position as a leading regional aviation hub by enhancing operational standards, improving efficiency, and raising the quality of services provided to travelers.
Asharq Al-Awsat
19-05-2025
- Business
- Asharq Al-Awsat
Saudi Airports Handle 128 Million Passengers in 2024, Marking 15% Growth
Saudi Arabia's aviation sector recorded robust growth in 2024, as airports across the Kingdom welcomed more than 128 million passengers—a 15 percent increase compared to the previous year. The surge comes as part of Riyadh's broader push to establish itself as a global aviation hub in the Middle East, in line with the goals of Vision 2030. According to the 2024 Air Transport Statistics Bulletin, issued by the General Authority for Statistics (GASTAT), international passenger traffic reached 69 million, up 14 percent year-on-year, while domestic travel saw a 16 percent jump, reaching 59 million passengers. The expansion is being driven by the National Aviation Strategy and the Air Connectivity Program, alongside efforts to privatize and modernize airport infrastructure. The Kingdom aims to connect to 250 destinations globally by 2030 via 29 airports, with a targeted annual capacity of 330 million passengers and 4.5 million tons of air freight. The Air Connectivity Program has played a central role in these efforts, helping attract 12 new international carriers and opening more than 60 new routes through 18 newly connected cities. Infrastructure developments in 2024 included the expansion of Al-Ahsa International Airport and the opening of a new international terminal at Taif International Airport. King Abdulaziz International Airport in Jeddah maintained its position as the busiest airport in the Kingdom, handling around 49 million passengers—an increase of 14 percent. Riyadh's King Khalid International Airport followed with 37.6 million passengers, up 18 percent, while Dammam's King Fahd International Airport recorded 12.8 million passengers, reflecting a 15 percent rise. The total passenger-handling capacity of Saudi airports reached 126 million in 2024. King Abdulaziz International led with a capacity of 50 million passengers annually, operating at 98 percent utilization—an 11 percent increase from 2023. King Khalid International ranked second with a capacity of 39 million and a 96 percent usage rate. In terms of international routes, King Abdulaziz International topped the list with 369, a 1 percent increase over the previous year. It was followed by Prince Mohammed bin Abdulaziz International Airport in Medina with 272 routes (up 5 percent), while King Khalid International saw a 6 percent decline to 165 routes. King Fahd International registered 85 international routes, down 8 percent. On average, Saudi airports handled 189,000 international passengers and 162,000 domestic passengers per day. Domestic flights rose by 12 percent to 474,000, while international flights increased by 10 percent to 431,000. King Abdulaziz International also led in total flight operations, with around 290,000 flights in 2024. King Khalid International followed with 274,000 flights, and King Fahd International reported 105,000.
Zawya
29-04-2025
- Business
- Zawya
AviLease obtains investment grade ratings from Moody's and Fitch
Riyadh, Saudi Arabia – AviLease, the global aircraft lessor headquartered in Saudi Arabia, today announced that it has received investment grade corporate credit ratings of Baa2 with a stable outlook from Moody's Ratings ('Moody's') and BBB with a stable outlook from Fitch Ratings ("Fitch"). Fitch and Moody's highlighted in their decisions that the ratings reflect AviLease's high-quality portfolio of new-technology aircraft with a strong credit mix, its robust balance sheet, and the expectation that AviLease's growth will make it among the largest players in the industry by 2030. The rating agencies also recognize the strategic role of AviLease in the execution of PIF's strategy in the context of enabling the growth of Saudi Arabia's aviation sector under Vision 2030. Edward O'Byrne, CEO of AviLease, said: "From day one, AviLease was set up with an investment grade profile in mind. Through the acquisition of the Standard Chartered Aviation platform, we have been able to accelerate our strategy by at least two years, establishing a robust platform of 200 owned and managed aircraft on lease to 48 airlines globally. The ratings open the door for even greater financial flexibility, as we will be able to tap into the unsecured debt capital markets. Achieving investment grade ratings in under three years since our establishment is a remarkable feat, and we believe it positions AviLease within a select group of lessors in the industry in record time. We are honored to see our efforts recognized by Moody's and Fitch.' Fahad AlSaif, Chairman of AviLease, commented: "The investment grade ratings from Moody's and Fitch, underscore the quality of our aircraft leasing platform both in terms of operational excellence and financial robustness. These ratings will enable AviLease to access global capital markets to finance its business strategies, positioning itself at the forefront of the aircraft leasing industry, in complete alignment with the National Aviation Strategy and Saudi Arabia's Vision 2030. About AviLease AviLease is a global aircraft lessor headquartered in Saudi Arabia. Backed by the long-term capital of its visionary shareholder PIF, AviLease aims to become a top 10 global player in aircraft leasing. As dynamic capital allocators, AviLease owns and manages a portfolio of 200 predominantly new-technology, fuel-efficient aircraft on long-term lease to 48 airline customers. With a seasoned global team of 85 professionals across five offices, AviLease serves as a national champion in aircraft leasing and plays a pivotal role in Saudi Arabia's Vision 2030 and National Aviation Strategy. For more information please visit: For Inquiries, please contact: Rawan Al Hosban
Arab News
29-04-2025
- Business
- Arab News
PIF's AviLease secures investment-grade ratings from Moody's, Fitch
RIYADH: Saudi Arabia's AviLease has secured investment-grade corporate credit ratings from Moody's and Fitch Ratings, as the global aircraft lessor continues to expand its portfolio and strategic role within the Kingdom's aviation sector. Owned by Saudi Arabia's Public Investment Fund, AviLease announced it received a Baa2 rating with a stable outlook from Moody's and a BBB rating with a stable outlook from Fitch. The two agencies highlighted AviLease's high-quality portfolio of new-technology aircraft with a strong credit mix, alongside its robust balance sheet and growth trajectory. They noted that the company is expected to become one of the largest players in the global leasing industry by 2030. 'The ratings open the door for even greater financial flexibility, as we will be able to tap into the unsecured debt capital markets,' Edward O'Byrne, CEO of AviLease, said in a press release. He continued: 'Achieving investment-grade ratings in under three years since our establishment is a remarkable feat, and we believe it positions AviLease within a select group of lessors in the industry in record time.' The ratings also recognize AviLease's strategic role in supporting PIF's aviation sector initiatives under Saudi Arabia's Vision 2030. 'These ratings will enable AviLease to access global capital markets to finance its business strategies, positioning itself at the forefront of the aircraft leasing industry, in complete alignment with the National Aviation Strategy and Saudi Arabia's Vision 2030,' Fahad Al-Saif, chairman of AviLease, said.
Saudi Gazette
23-04-2025
- Business
- Saudi Gazette
GACA issues report on airport and airline performance in March
Saudi Gazette report JEDDAH —The General Authority of Civil Aviation (GACA) issued its monthly report on the compliance of airports and national carriers with flight times for the month of March 2025, based on the status of a flight departing or arriving within a period of less than 15 minutes of its scheduled time. The report issued in March 2025 indicated that King Khalid International Airport in Riyadh, King Fahd International Airport in Dammam, Abha International Airport, Al-Ula International Airport, King Saud bin Abdulaziz Airport in Al-Baha, Dawadmi Airport, and Tarif Airport topped the report's rankings . Airports were divided into five categories. King Khalid International Airport in Riyadh took first place in the category of international airports with more than 15 million passengers annually, with a compliance rate of 93%. In the second category of international airports with 5 to 15 million passengers annually, King Fahd International Airport in Dammam took first place with a rate of 93%. In the third category of international airports with 2 to 5 million passengers annually, Abha International Airport took first place with a compliance rate of 95%. AlUla International Airport ranked first in the fourth category for international airports with fewer than two million passengers annually, achieving a compliance rate of 97%. King Saud bin Abdulaziz Airport in Al Baha, Al Dawadmi Airport, and Turaif Airport each achieved first place in the fifth category for domestic airports, achieving a compliance rate of 100%. Saudi Arabia's Airlines ranked first among national carriers with a 95% commitment rate for arrivals and 94% for departures. Flynas achieved a 91% commitment rate for arrivals and 91% for departures, and Flyadeal achieved a 91% commitment rate for arrivals and 94% for departures. The report highlighted the most prominent domestic and international air routes. The Riyadh-Abha flight witnessed a 98% compliance rate for domestic air traffic, while the Riyadh-Amman flight ranked first among international flights with a 99% compliance rate. These efforts are part of the National Aviation Strategy's objectives, which aim to strengthen Saudi Arabia's position as a leading regional aviation hub by improving operational standards, enhancing efficiency, and enhancing the quality of services provided to travelers.
