Closing Bell: Saudi main index hits 12,405 with trading turnover of $3.07bn

Closing Bell: Saudi main index hits 12,405 with trading turnover of $3.07bn
Closing Bell: Saudi main index hits 12,405 with trading turnover of $3.07bn

Thank you for reading the news about Closing Bell: Saudi main index hits 12,405 with trading turnover of $3.07bn and now with the details

Jeddah - Yasmine El Tohamy - Riyadh Air inks deal with Sabre Corp. to enhance operational efficiency

RIYADH: The operational efficiency of Saudi Arabia’s upcoming airline Riyadh Air is poised for improvement with the signing of an agreement with Texas-based Sabre Corp. 

Under this deal, the software and technology provider will help the carrier drive incremental revenue gains through end-to-end network planning and optimization solutions.

The airline has chosen several of Sabre’s software solutions, including schedule manager, slot manager, profit manager, and market intelligence, according to a press statement.

Sabre’s schedule manager will help Riyadh Air organize the development process from planning to distribution, thereby increasing revenue potential.

The slot manager is a suite that efficiently handles an airline’s critical slot portfolio with improved asset utilization.

Similarly, the profit manager will help to accurately forecast demand and profitability with an average increase of up to 2 percent in revenues. It is expected to empower Riyadh Air to design profitable network plans and create an optimal hub structure.

The market intelligence suite will allow Riyadh Air to identify new revenue opportunities. 

Vincent Coste, chief commercial officer of Riyadh Air, said: “Sabre’s technology provides a new level of insight that will enable Riyadh Air to make informed network planning and commercial decisions, ensuring greater revenue returns, allowing us to invest more in enhancing the overall passenger experience.” 

He added: “We have carefully selected a stable of world-class technical suppliers to power Riyadh Air toward its maiden flight in 2025, and this collaboration is a key milestone in our journey to achieve operational excellence and scale our business efficiently.” 

Garry Wiseman, chief product and technology officer at Sabre Travel Solutions, highlighted that the partnership will allow Riyadh Air to respond swiftly to competitor changes, identify new market opportunities, and optimize flight times for incremental revenue gains. 

Wiseman added: “Our end-to-end network planning and optimization suite has been a cornerstone of commercial planning for over two decades, supporting brand differentiation and operational excellence.” 

Earlier this month, Riyadh Air signed another deal with Oracle Fusion Cloud Applications Suite to streamline and scale its core business operations.

The services in the applications suite include digitalizing finance, supply chain, and human capital management. 

These were the details of the news Closing Bell: Saudi main index hits 12,405 with trading turnover of $3.07bn 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.

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]