Oil Updates – crude extends weekly gains, up 1 percent as Red Sea tension persists

Oil Updates – crude extends weekly gains, up 1 percent as Red Sea tension persists
Oil Updates – crude extends weekly gains, up 1 percent as Red Sea tension persists

Thank you for reading the news about Oil Updates – crude extends weekly gains, up 1 percent as Red Sea tension persists and now with the details

Jeddah - Yasmine El Tohamy - RIYADH: The Cairo to Jeddah sector has been ranked as the second busiest international route during 2023, with 4.8 million seats, according to a report.

Launched by global travel data provider firm the Official Airline Guide, the report indicated a 2 percent capacity difference between first and second place.

This comes as 2023’s busiest international airline route was Kuala Lumpur to Singapore with 4.9 million seats.

This falls in line with the Kingdom’s aim of developing and upgrading all aviation sectors, including Saudi airlines, logistics services, cargo assistance, and other support divisions to boost its tourism efforts and aviation strategy in line with Vision 2030.

“Saudi Arabia is leading globally through aviation, achieving the highest increase in connectivity out of any country and outperforming global aviation growth rates,” the Kingdom’s Minister of Transport and Logistics Services, Saleh Al-Jasser, said at the Saudi Aviation Strategy Steering Committee. 

“The aviation sector is making a significant contribution to the Kingdom’s National Transport and Logistics Strategy, connecting Saudi Arabia to the world in support of Vision 2030,” Al-Jasser added. 

During the same event, General Authority of Civil Aviation President Abdulaziz Al-Duailej said: “2023 has been a record-breaking year for Saudi aviation — with the Kingdom carrying more passengers and connecting with more destinations than ever before.”

Al-Duailej added that this transformation is being led through the Saudi Aviation Strategy, which aims to target 330 million passengers, establish connectivity with 250 destinations, and hold a cargo capacity of 4.5 million tons by 2030. 

“The achievements are a testament to the work of the entire aviation sector and to the alignment achieved through the steering committee,” Al-Duailej highlighted. 

The report by OAG also reveals that Hong Kong to Taipei is the third busiest international route in 2023, with 4.6 million seats. This same route was also the most active in 2019, and capacity has dropped by 43 percent since then.

In addition to this, most routes in the international top 10 for 2023 have a capacity ranging between 9 percent and 43 percent below their 2019 levels.

Moreover, half of the flight paths in the top 10 busiest international routes did not appear on the same list in 2019.

Localized aircraft production is projected to grow 126 percent in Saudi Arabia over the next 20 years, said the head of an international organization dedicated to women in aviation earlier this week. 

These were the details of the news Oil Updates – crude extends weekly gains, up 1 percent as Red Sea tension persists for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Arab News and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Saudi banks witness 11% surge in loans to $726bn, fueled by corporate activities 

Author Information

I am Jeff King and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind Al-KhaleejToday.NET with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Financial” category. Address: 383 576 Gladwell Street Longview, TX 75604, USA Phone: (+1) 903-247-0907 Email: [email protected]