{"id":94757,"date":"2025-02-26T00:00:00","date_gmt":"2025-02-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/26\/middle-east-will-need-more-aircrafts-in-the-next-20-years-airbus-president\/"},"modified":"2025-02-26T00:00:00","modified_gmt":"2025-02-26T00:00:00","slug":"middle-east-will-need-more-aircrafts-in-the-next-20-years-airbus-president","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/26\/middle-east-will-need-more-aircrafts-in-the-next-20-years-airbus-president\/","title":{"rendered":"Middle East will need more aircrafts in the next 20 years -Airbus President"},"content":{"rendered":"

Good morning, wonderful readers<\/strong>. The week is almost over, and the holy month is almost here. We have a packed issue for you today, with the latest international trade data out from Gastat, and Saudi Arabia launching its first EUR-denominated green sukuk issuance. Let\u2019s dive in.<\/p>\n

HAPPENING TODAY-<\/p>\n

The Qasr Al Hokm Metro Station in central Riyadh goes live today<\/strong>, according to a statement<\/a> from the Royal Commission for Riyadh. The station will connect the blue and orange lines, and will provide access to various government institutions, historical squares and commercial centers, read the statement. <\/p>\n

WEATHER-<\/strong> Riyadh is set for a 17\u00b0C high and a 7\u00b0C low today, while Jeddah\u2019s mercury is set to peak at 30\u00b0C and hit a low of 21\u00b0C. Meanwhile, Dammam will see a high of 16\u00b0C, and a low of 6\u00b0C.<\/p>\n

\n

PSAs- <\/p>\n

#1- <\/strong>Ramadan working schedule from Sama:<\/strong> The Saudi Central Bank announced that banks will be open from 10am to 4pm during the holy month, while financial transfer centers and payment service providers will open for six hours between 9:30am to 5:30pm, it said in a X post<\/a>. Sama also declared celebrations for Eid Al Fitr to run from 30 March to 2 April, and Eid Al Adha from 5 June to 10 June.<\/p>\n

#2- <\/strong>Property owners in Riyadh, Madinah and 3 cities in the Eastern Province have <\/strong>until<\/strong> tomorrow to register their properties online<\/strong> through the Real Estate Registry website<\/a>, according to a post on X<\/a> from the Real Estate General Authority. The Riyadh districts include Al Yamamah, Atifa, Sabah, Al Mafrooqah Al Jadida, Al Suwaidi, Al Rawda, Al Badia, Al Olaya, Sakina, Al Wasita, Salam, Al Arousia, Al Morouj, and Al Hara, among others.<\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a> #1- <\/strong>Middle East aircraft demand is projected to reach 3.7k over the next 20 years, <\/strong>including<\/strong> 42% wide-bodied jets \u2014 double than the global average, <\/strong>Airbus President Wouter Van Wersch told Al Eqtisadiah<\/a> on the sidelines of the Aerospace Connect Forum (watch, runtime 00:58)<\/a>. The region\u2019s aviation market, with a particular emphasis on Saudi Arabia, is \u201cundergoing tremendous change,\u201d Wersch said, highlighting the Kingdom\u2019s target to increase its passenger numbers to 330 mn by 2030. <\/p>\n

REMEMBER- <\/strong>Air traffic across Saudi airports increased 15% y-o-y to 128 mn passengers in<\/a>2024<\/a>. The Kingdom\u2019s airports also saw 11% y-o-y growth in flight numbers to 905k during the same period, with a 16% y-o-y rise in air connectivity to 170 global destinations.<\/p>\n

\n

\n

<\/a> #2- <\/strong>The <\/strong>Gulf Petrochemicals and Chemicals Association (GPCA)<\/a><\/strong> is set to move its<\/strong> headquarters to Riyadh from Dubai<\/strong>, after a headquarters agreement was approved by the council of ministers during their meeting yesterday, state news agency SPA<\/a> reports. <\/p>\n

\n

DATA POINTS-<\/p>\n

<\/a> <\/strong>Consumer spending via point-of-sale (PoS) transactions in the Kingdom dropped <\/strong>2.1% <\/strong>w-o-w for the week ending February 22 to just over SAR 13 bn,<\/strong> according to the Saudi Central Bank\u2019s report (pdf)<\/a>. The number of weekly transactions also declined by 3.0% to 210k.<\/p>\n

The details:<\/strong> Food and beverages once again made up the biggest chunk of spending in terms of value during the week, falling 3.7% w-o-w to some SAR 1.9 bn. The figure nearly matched restaurants and cafes, which saw a 1.7% w-o-w drop. Riyadh had the highest value of PoS transactions at SAR 4.6 bn, followed by Jeddah at SAR 1.9 bn.<\/p>\n

\n
\n
\n
\n

Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

***<\/strong>You\u2019re reading EnterpriseAM Saudi<\/strong>, your essential daily roundup of business, economics, and must-read news about Saudi, delivered straight to your inbox. We\u2019re out Sunday through Thursday by 7am Riyadh time.<\/p>\n

EnterpriseAM Saudi is available without charge <\/strong>thanks to the generous support of our friends at Tas\u2019heel.<\/p>\n

Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on saudi@enterpriseAM.com<\/a>.<\/p>\n

DID YOU KNOW <\/strong>that we also cover Egypt<\/a>, the UAE<\/a>, the MENA logistics<\/a> and climate<\/a> industries?<\/p>\n

Were you forwarded this email? <\/strong>Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday.
***<\/strong><\/p>\n

\n

THE BIG STORY ABROAD- <\/p>\n

Ukraine has reportedly <\/strong>agreed to a framework<\/a><\/strong> for an economic agreement that will see the US tap its revenues from rare minerals<\/strong>. US President Trump \u2014 who pushed hard for the agreement with personal attacks on his counterpart Volodymyr Zelensky \u2014 had earlier hinted<\/a> the Ukrainian President could arrive in Washington as soon as Friday to sign the agreement.<\/p>\n

Trump is active as usual: <\/strong>The US president also signed an order yesterday to examine tariffs on copper<\/a>, and said he will introduce a \u201cgold card\u201d visa program<\/a> that provides a route to US citizenship for the low price of USD 5 mn. Meanwhile, his controversial USD 4.5 tn tax cut plan narrowly passed the House<\/a>.<\/p>\n

ALSO WORTH NOTING-<\/strong><\/p>\n