AB Espresso: Riyadh Air orders 60 Airbus A321s in $15bn expansion

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In today’s newsletter:

Discover the latest stories from Arabian Business, compiled by our editorial team. Here's what you missed on Thursday:

Riyadh Air’s CFO announced in an exclusive interview that the airline has secured an order for 60 Airbus A321 aircraft, valued at over $15 billion at list prices. This order comes shortly after the airline received its Air Operator’s Certificate, marking a key step towards launching commercial operations. CFO Adam Boukadida shared this news during an interview at the Future Investment Initiative summit in Riyadh on Wednesday.

In other major developments, Colm McLoughlin, former Executive Vice Chairman & CEO of Dubai Duty Free, passed away on October 30 at the age of 81. Dubai Duty Free stated that McLoughlin died in the UK following a brief illness.

Additionally, the UAE has extended a visa amnesty for resident and visit visa overstayers until the end of the year. This extension allows violators until December 31, 2024 to resolve their status or leave the country without facing an entry ban.

On the real estate front, Dubai-based developer Binghatti launched ‘Binghatti Skyrise’ in Business Bay. The project aims to meet demand for high-end residential units near Burj Khalifa and Dubai Water Canal. Binghatti plans to double its project portfolio to over AED 100 billion within the next 18 months.

Lastly, the UAE Fuel Price Committee announced a rise in petrol and diesel prices for November 2024, reflecting changes in global oil markets under the UAE’s revised pricing policy.

Until next time, Sharon Benjamin for Arabian Business

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