INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Turkish Airlines, Riyadh Air ink MoU

Guest of both airlines will be able to take full advantage of each carrier’s worldwide network. (Turkish Airlines)
  • The establishment of Riyadh Air is in line with PIF’s mandate to unlock the capabilities of key sectors locally to drive the diversification of Saudi Arabia’s economy.
  • The airline will support the Saudi Aviation Strategy's broader vision, and enable the National Tourism Strategy, unlocking Saudi Arabia's cultural and natural attractions.

Riyadh, Saudi Arabia: Turkish Airlines (TK) and Riyadh Air (RX) have agreed a Strategic Cooperation Memorandum of Understanding to offer a comprehensive range of benefits for guests traveling between the Kingdom, Türkiye and points beyond their Riyadh and Istanbul hubs.

Guest of both airlines will be able to take full advantage of each carrier’s worldwide network through a comprehensive interline and codeshare agreement that will allow customers to seamlessly connect between and combine sectors operated by either Riyadh Air or Turkish Airlines.

Turkish Airlines Chief Investment & Technology Officer Levent Konukcu and Riyadh Air CEO, Tony Douglas, signed the agreement at a ceremony on the sidelines of the ICAO Air Services Negotiation Event (ICAN 2023) held in Riyadh.

The close cooperation will allow members of each carrier’s loyalty program to earn points or credits when traveling on codeshare services operated by the other, with both airlines also exploring opportunities to develop a broader loyalty agreement covering both global networks.

The establishment of Riyadh Air is in line with PIF’s mandate to unlock the capabilities of key sectors locally to drive the diversification of Saudi Arabia’s economy.

The airline will also support the Saudi Aviation Strategy’s broader vision, and enable the National Tourism Strategy, unlocking Saudi Arabia’s cultural and natural attractions to international tourists and creating new jobs.