Riyadh Air aims to finalise a wide-body aircraft order this summer, as it chooses between the Boeing 777X and Airbus A350-1000 models, the industry's largest twin-aisle jets.
The Saudi Arabian start-up is also considering an order for dedicated freighters after it makes a decision on the twin-aisle jets, chief executive Tony Douglas told The National at the Arabian Travel Market in Dubai.
"We will do an extra-wide-body order, if it all works on the timelines we're on, that will be a summer announcement, and it will be the third aircraft type in our fleet," he said.
After finalising the order, Riyadh Air will select freighters of the same model.
Mr Douglas said: "After we've announced the extra-wide-body order, what will follow will be a freighter confirmation. It will be the same airframe and engine choice as the extra-wide-body."
The Public Investment Fund-backed Riyadh Air in 2023 placed orders for 39 Boeing 787 Dreamliners, with options for 33 more, and for Airbus A321 Neo narrow-bodies in 2024.
The latest order hinges on "three swim lanes" of performance, pricing and slot availability as it compares each model, Mr Douglas said.
"I'd take them tomorrow morning, that's how soon we'd like them, but the reality is, with both [Boeing and Airbus], that's not going to happen any time soon," he added.
While the 777X will be a "great aircraft", the plane has yet to be certified, he said. Meanwhile, the A350-1000 is facing issues with the durability of its Rolls-Royce engine but modifications will be introduced on all deliveries in 2026-2027, he added.
"It doesn't matter which way we go, on the engines side of it we will be on the next level of evolution," Mr Douglas said. "It's a very complex evaluation. If these things were a slam dunk, they genuinely are a 51-49er when you get into this level of sophistication."
Airline debut
The start-up airline expects to take delivery of its first three 787s this year, another 10 in 2026 and then one aircraft a month thereafter, Mr Douglas said, declining to specify when the first planes will arrive.
"If we were to go to Charleston, South Carolina at the moment, we could have this conversation sat inside our fuselage," he said, referring to Boeing's production plant. "Our first three [787s] are going down the production line as we speak."
It is "only a matter of time" before the airline firms up the options for 33 Boeing 787s, leaving it with a fleet of 132 aircraft in total, Mr Douglas said.
Boeing, which changed the delivery schedule five times last year, has "stabilised" this year but "until the aircraft is on the tarmac at Riyadh airport, and I can throw my arms around it, things can change in a heartbeat", he said. "Because we are a start-up, we don't have a Plan B."
The airline will start selling tickets in "late summer" before its first commercial flight in the fourth quarter of 2025.
"The ticket-selling window will determine where we will fly to and the timing of that service, so it will be a number of destinations that we release," Mr Douglas said, declining to reveal precise dates or routes.
The "digital native" airline will set its tickets primarily on a "3.0" version of its mobile app that will be the "holy grail that most commercial airlines have been searching for decades and we've got it cracked", he said.
Riyadh Air, which has hired 500 employees, plans to add 1,000 more in the next 12 months, Mr Douglas said.
Saudi Arabia recorded an 8 per cent increase in passenger traffic to 34.9 million between January and March, according to the General Authority of Civil Aviation. A total of 21 airlines have entered the Saudi market over the past year, including China Eastern, Virgin Atlantic, Italia Trasporto Aereo (ITA Airways), Eurowings and Air China.
More than 20 new routes were established to destinations such as Rome, Hong Kong and Beijing.
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
'Fantastic Beasts: The Secrets of Dumbledore'
Rating: 3/5
Directed by: David Yates
Starring: Mads Mikkelson, Eddie Redmayne, Ezra Miller, Jude Law
THE%20SPECS
%3Cp%3EEngine%3A%204.4-litre%20twin-turbo%20V8%20hybrid%0D%3Cbr%3EPower%3A%20653hp%20at%205%2C400rpm%0D%3Cbr%3ETorque%3A%20800Nm%20at%201%2C600-5%2C000rpm%0D%3Cbr%3ETransmission%3A%208-speed%20auto%0D%3Cbr%3E0-100kph%20in%204.3sec%0D%3Cbr%3ETop%20speed%20250kph%0D%3Cbr%3EFuel%20consumption%3A%20NA%0D%3Cbr%3EOn%20sale%3A%20Q2%202023%0D%3Cbr%3EPrice%3A%20From%20Dh750%2C000%0D%3Cbr%3E%3C%2Fp%3E%0A
What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
2024%20Dubai%20Marathon%20Results
%3Cp%3E%3Cstrong%3EWomen%E2%80%99s%20race%3A%3C%2Fstrong%3E%0D%3Cbr%3E1.%20Tigist%20Ketema%20(ETH)%202hrs%2016min%207sec%0D%3Cbr%3E2.%20Ruti%20Aga%20(ETH)%202%3A18%3A09%0D%3Cbr%3E3.%20Dera%20Dida%20(ETH)%202%3A19%3A29%0D%3Cbr%3EMen's%20race%3A%0D%3Cbr%3E1.%20Addisu%20Gobena%20(ETH)%202%3A05%3A01%0D%3Cbr%3E2.%20Lemi%20Dumicha%20(ETH)%202%3A05%3A20%0D%3Cbr%3E3.%20DejeneMegersa%20(ETH)%202%3A05%3A42%3C%2Fp%3E%0A
The biog
Name: Abeer Al Bah
Born: 1972
Husband: Emirati lawyer Salem Bin Sahoo, since 1992
Children: Soud, born 1993, lawyer; Obaid, born 1994, deceased; four other boys and one girl, three months old
Education: BA in Elementary Education, worked for five years in a Dubai school
SPEC SHEET
Display: 10.4-inch IPS LCD, 400 nits, toughened glass
CPU: Unisoc T610; Mali G52 GPU
Memory: 4GB
Storage: 64GB, up to 512GB microSD
Camera: 8MP rear, 5MP front
Connectivity: Wi-Fi, Bluetooth 5.0, USB-C, 3.5mm audio
Battery: 8200mAh, up to 10 hours video
Platform: Android 11
Audio: Stereo speakers, 2 mics
Durability: IP52
Biometrics: Face unlock
Price: Dh849
Results
5pm: Maiden (PA) Dh80,000 (Turf) 2,200m; Winner: Gurm, Antonio Fresu (jockey), Eric Lemartinel (trainer)
5.30pm: Handicap (PA) Dh80,000 (T) 1,600m; Winner: Al Nafece, Al Muatasm Al Balushi, Mohammed Ramadan
6pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 1,200m; Winner: Ashton Tourettes, Adrie de Vries, Ibrahim Aseel
6.30pm: Arabian Triple Crown – Group 3 (PA) Dh300,000 (T) 2,200m; Winner: Ottoman, Adrie de Vries, Abdallah Al Hammadi
7pm: Liwa Oasis – Group 2 (PA) 300,000 (T) 1,400m; Winner: Hakeemat Muscat, Szczepan Mazur, Ibrahim Al Hadhrami
7.30pm: Handicap (TB) Dh80,000 (T) 1,600m; Winner: Ganbaru, Antonio Fresu, Musabah Al Muhairi
