Bahrain Bourse issues new regulatory framework for market makers

Bahrain Bourse issues new regulatory framework for market makers
Bahrain Bourse issues new regulatory framework for market makers

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Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia’s national carrier has topped the list of global airlines as it achieved an 88.22 percent on-time arrival rate in June, according to new data from the independent aviation tracking site Cirium.

Saudia also recorded an on-time departure rate of 88.73 percent, while operating 16,133 flights across its network of over 100 destinations on four continents.

The accomplishment is significant given that June is a peak travel month due to the annual Muslim Hajj pilgrimage and the summer travel season. The Kingdom saw around 2 million visitors during the Hajj season this year.

King Khalid International Airport in Riyadh also secured the top position for most on-time performance globally in June for the second consecutive month, according to the same report.

This comes amid steady growth in Saudi Arabia’s aviation sector, which contributed $21 billion to the Kingdom’s gross domestic product in 2023, enhancing its status as a global tourism hub.

The National Transport and Logistics Strategy aims to increase the aviation industry’s GDP contribution from the current 6 percent to 10 percent by 2030.

Ibrahim Al-Omar, director general of Saudia Group, said: “This accomplishment is a realization of our strategic goals to enhance operational efficiency and quality through continuous improvements in flight scheduling and the implementation of the best digital solutions and systems for operations management.”

He added: “Maintaining a high level of on-time performance requires significant effort, as it involves overcoming numerous operational challenges in the aviation industry, such as weather conditions, high temperatures, technical issues, and other airport-related factors.” 

Saudia has been consistently ranked among the top 10 global airlines for on-time performance since last year, reflecting its commitment to high-quality standards and air safety, the company said.

Its operations are coordinated through one of the largest integrated operation control centers in the Middle East, which utilizes the latest technologies for aircraft communications to ensure smooth operations by monitoring all procedures related to aircraft takeoff and landing in real-time at all domestic and international airports.

King Khalid International Airport’s top ranking by Cirium underscores its dedication to operational excellence and serves as a catalyst for ongoing improvements, said Ayman Aboabah, CEO of Riyadh Airports Co., the Saudi Press Agency reported.

“This excellence reflects our commitment to quality and operational efficiency. It motivates us to continue collaborating with various partners at King Khalid International Airport to deliver the best travel experience and the highest level of services to our passengers,” he added.

“King Khalid International Airport stands as a national landmark, showcasing the Kingdom’s status and future aspirations in line with Vision 2030’s objectives,” Aboabah also said.

He highlighted the importance of his staff’s commitment to the highest operational standards, which he said was a defining characteristic of the airport’s workforce, and their continuous efforts to enhance passenger experiences.

The recognition of King Khalid International Airport as the world’s most punctual airport follows a third-place ranking by Cirium in January. The airport advanced to first place in May and maintained this position in June, reflecting its recent rapid and notable progress.

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