The Middle East is a key player in reshaping the global aviation landscape, with mammoth aircraft orders and innovations in passenger experience. At the Routes World 2024 conference, four industry heavyweights from the region shared insights. Riyadh Air, a new Saudi carrier, is close to obtaining its Air Operator Certificate (AOC) and plans to launch in 2025. The airline has ordered up to 72 Boeing 787-9 Dreamliner planes and is expected to announce its narrowbody fleet composition soon. Partnerships with international airlines like Delta Air Lines and Singapore Airlines are also in the works.

Oman Air is undergoing a significant restructuring aimed at securing a more stable financial future. The airline is focusing on reducing costs, streamlining routes, and cutting back its fleet. Despite these cutbacks, Oman Air is committed to expanding its network in key regions in the future. The CEO highlighted a new route between Muscat and Rome set to launch in December and a stopover package for transit passengers. The ultimate goal of Oman Air is to shrink, fix its foundations, and eventually return to a growth agenda.

Low-cost carrier Air Arabia is using a 120-strong aircraft order to achieve growth outside its traditional markets in the Middle East. The airline’s fleet has grown by 20% in the last year, and there are plans for more hubs within the next decade. Air Arabia aims to tap into potential markets like Egypt and explore opportunities for subsidiary airlines in other regions. The arrival of the Airbus A321XLR in 2027 will enable connections to destinations in Asia and potentially open up transatlantic routes.

Saudi low-cost carrier flyadeal is planning to more than double its fleet size over the next four years, expanding its international connectivity. The airline aims to shift from a largely domestic operator to one with greater international reach, targeting destinations within five hours of Saudi Arabia. Flyadeal aims to expand to 88 planes by 2028, in line with Saudi Arabia’s Vision 2030 objectives. The company is exploring widebody options for its fleet expansion and will announce its decision by the end of the year.

The airline sector stock index performance within the ST200 shows the financial performance of airline sector stocks globally. The index includes publicly traded companies across network carriers, low-cost carriers, and related companies. The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies, providing an overview of the industry’s financial health. The methodology behind the ST200 provides insights into how the index is calculated and what it represents in the travel industry.

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