INSEAD Day 4 - 728x90

Alpha Dhabi profit jumps 48%

AI and technology investments boost earnings.

Agthia profit, dividend jump

Transformation lifts earnings, cash generation.

2PointZero reports strong H1

Expansion drives earnings, revenue growth.

Borouge profit climbs 23%

Prices, recovery boost quarterly earnings

e& posts 11.6% revenue growth

The H1 net profit hits $1.63 billion.

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.