Saudi Wealthy Flee Nation Amidst Yemeni Drone Strikes, Driving Up Private Jet Costs
According to the International Desk of Webangah News Agency, …
The English newspaper Financial Times has reported that recent attacks by Yemeni armed forces have led to the closure of Riyadh’s main airport and the cancellation of thousands of commercial flights. This situation has driven a substantial increase in demand from wealthy passengers and executives seeking chartered flights for departure, consequently raising their prices by over 50 percent. Concurrently, the cost of insurance against ‘war risks’ has also seen a sharp escalation.
Several air service providers have ceased operations from Saudi Arabia, a move that has resulted in reduced supply and consequently higher prices. Alexander Graham of the private flight group Lux Jet stated that a flight from Al-Qassim airport, north of Riyadh, to Geneva aboard a Bombardier Global 6000, a long-range aircraft with a 14-passenger capacity, was recently sold for 94,000 Euros. This is a significant increase from the approximately 60,000 Euros charged before the closure of Riyadh’s main airport.
Graham further explained that price hikes are attributed to capacity shortages, forcing individuals wishing to travel to bear higher expenses. Data from the flight analysis group Cirium indicates that over 5,500 outbound flights have been canceled from Saudi airports since the onset of the attacks. Major airlines such as Lufthansa and ITA Airways have suspended their flights to Saudi Arabia, while others like British Airways and Air France have postponed their services.
In response to the disruptions, passengers attempting to depart the capital are now compelled to utilize the smaller Al-Qassim airport, located over 200 miles from Riyadh. For those unable to afford private jet charters, some travelers are journeying to Bahrain or Qatar to catch their flights. Charles Robinson, founder of Interjet Market, noted that charter flight prices from Saudi Arabia to Europe can reach up to $150,000, with flights to the UAE ranging between $30,000 and $50,000.
Robinson emphasized that few airlines are willing to operate flights into or out of the affected airports. The remaining companies in the market, facing limited competition and high demand, are charging significantly more. He also pointed out that many private jet clients, previously seeking less risky travel routes, are now resorting to this option for their journeys back to Europe or the United States.
