
New flights for 20 000 Qatar Airways passengers within 24 hours, CEO says
Qatar Airways said on Wednesday that all of the roughly 20 000 passengers who were on flights that were diverted on Monday night after Iran fired missiles towards a US military base in the Gulf country were put on new flights within 24 hours.
Iran launched a missile attack on Al Udeid Air Base in Doha after the U.S. joined Israel's attacks on Iranian nuclear sites, threatening a further escalation in regional tensions before a ceasefire between Iran and Israel was announced.
The attack forced Qatar, Kuwait and Bahrain to shut their airspace temporarily while Dubai's two airports in the United Arab Emirates briefly halted operations.
The closures created a backlog of thousands of passengers at Doha's Hamad International Airport who queued for hours, facing long delays and flight cancellations.
"All passengers from diverted flights — approximately 20 000 in total — were cleared within 24 hours," Qatar Airways CEO Badr Mohammed Al-Meer said in an open letter posted on X. "More than 11 000 resumed their journeys during the morning wave on 24 June, with the remainder departing through the evening wave and morning bank on 25 June. As of today, there are no passengers from diverted flights left stranded."
Traffic at the airport on Wednesday was regular with minimal delays and no crowds, according to a Reuters witness.
Al-Meer said that at the time of the attack, over 90 Qatar Airways flights heading to Doha "were forced to divert immediately" while more than 10 000 passengers were already in transit at Doha's airport.
The airline, which carried just over 43 million passengers in the year to the end of March, activated its business continuity plans, increasing capacity to destinations with high volumes of displaced passengers, in response to the turmoil following the attack, he added.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 hours ago
- Yahoo
Saudi Aramco profit drops 22 percent on lower prices
Saudi Aramco's profit slid 22 percent in the second quarter to 85 billion riyals ($22.67 billion) as a slump in prices hit revenues, the oil giant said on Tuesday. Aramco, the world's biggest oil exporter and driver of the Saudi economy, has now seen profits decline for 10 straight quarters since record results in late 2022. "The decrease in revenue was mainly due to lower crude oil prices and lower refined and chemical products prices," Aramco said in its quarterly report. The Gulf oil major was trading at 23.91 riyals on Tuesday, 12 percent below the 27.35 riyals price of its secondary share offering last year. Since a high point of nearly $2.4 trillion in 2022, when oil prices soared following Russia's invasion of Ukraine, Aramco has lost more than $800 billion in market value. Oil prices, currently around $70 a barrel, have remained low despite tensions roiling the Middle East, including the short-lived Israel-Iran war in June. "Market fundamentals remain strong and we anticipate oil demand in the second half of 2025 to be more than two million barrels per day higher than the first half," said Aramco president and CEO Amin H. Nasser. ht/th/kir Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


Bloomberg
2 hours ago
- Bloomberg
Ben-Gacem: Gulf Increasingly Positioned as Haven
The Gulf is increasingly being positioned as a haven for capital, trade and manufacturing, says Hazem Ben-Gacem, CEO of BlueFive Capital. He adds that Islamic investment products are an area of opportunity that has been ignored. Ben-Gacem also discusses growth plans and fundraising in the GCC with Joumanna Bercetche on Horizons Middle East & Africa. (Source: Bloomberg)
Yahoo
5 hours ago
- Yahoo
Undiscovered Gems in Middle East Stocks for August 2025
As the Middle East markets navigate a landscape shaped by potential U.S. Federal Reserve rate cuts and fluctuating oil prices, Gulf equities have shown resilience with most shares gaining in anticipation of easing monetary policies. This environment creates a fertile ground for identifying promising stocks, where factors such as strong financial fundamentals and strategic market positioning can make certain companies stand out as undiscovered gems amidst broader economic shifts. Top 10 Undiscovered Gems With Strong Fundamentals In The Middle East Name Debt To Equity Revenue Growth Earnings Growth Health Rating Baazeem Trading 8.48% -2.02% -2.70% ★★★★★★ MOBI Industry 6.50% 5.60% 24.00% ★★★★★★ Sure Global Tech NA 11.95% 18.65% ★★★★★★ Nofoth Food Products NA 15.75% 27.63% ★★★★★★ Etihad Atheeb Telecommunication 1.05% 36.24% 62.23% ★★★★★★ Najran Cement 14.20% -2.87% -22.60% ★★★★★★ National General Insurance (P.J.S.C.) NA 14.55% 29.05% ★★★★★☆ National Corporation for Tourism and Hotels 18.21% 4.16% 13.75% ★★★★★☆ National Environmental Recycling 69.43% 43.47% 32.77% ★★★★☆☆ Saudi Chemical Holding 79.49% 16.57% 44.01% ★★★★☆☆ Click here to see the full list of 224 stocks from our Middle Eastern Undiscovered Gems With Strong Fundamentals screener. Here's a peek at a few of the choices from the screener. Besler Gida Ve Kimya Sanayi ve Ticaret Anonim Sirketi Simply Wall St Value Rating: ★★★★★★ Overview: Besler Gida Ve Kimya Sanayi ve Ticaret Anonim Sirketi operates in the production and trade of frozen and canned products in Turkey, with a market capitalization of TRY10.79 billion. Operations: Besler generates revenue primarily from edible oil and frozen food, with sales of TRY14.99 billion and TRY9.02 billion, respectively. The company's focus on these segments contributes significantly to its overall financial performance. Besler Gida, a promising player in the food sector, has demonstrated significant growth with earnings surging by 20.7% over the past year, outpacing the industry average of -10.1%. The company's debt to equity ratio impressively decreased from 118% to 40.1% over five years, indicating prudent financial management. Sporting a price-to-earnings ratio of 9.8x, Besler is attractively valued compared to the TR market's 20.8x average. With high-quality earnings and satisfactory net debt levels at 24.8%, Besler seems well-positioned within its industry despite broader challenges faced by peers like Kerevitas Gida Sanayi ve Ticaret A.S., which reported reduced sales and income recently. Take a closer look at Besler Gida Ve Kimya Sanayi ve Ticaret Anonim Sirketi's potential here in our health report. Gain insights into Besler Gida Ve Kimya Sanayi ve Ticaret Anonim Sirketi's historical performance by reviewing our past performance report. Al-Babtain Power and Telecommunications Simply Wall St Value Rating: ★★★★★☆ Overview: Al-Babtain Power and Telecommunications Company, along with its subsidiaries, manufactures lighting poles and power transmission towers and accessories in the United Arab Emirates, Saudi Arabia, and Egypt, with a market capitalization of SAR3.60 billion. Operations: The primary revenue streams for Al-Babtain Power and Telecommunications include the Towers and Metal Structures Sector generating SAR1.18 billion, followed by the Solar Energy Sector at SAR592.76 million. The Columns and Lighting segment contributes SAR571.13 million, while Design, Supply, and Installation adds SAR404.90 million to the total revenue. Al-Babtain Power and Telecommunications shines with earnings growth of 29.3% over the past year, outpacing the Construction industry's 13.8%. Despite a high net debt to equity ratio of 72.2%, interest payments are comfortably covered by EBIT at 4.9x, indicating manageable financial obligations. The company has demonstrated resilience with net income rising to SAR 88.2 million from SAR 82.6 million last year, reflecting strong operational performance despite a dip in sales from SAR 699.55 million to SAR 631.23 million this quarter. Trading at a price-to-earnings ratio of just 13.2x against the SA market's average of 20.2x suggests attractive valuation relative to peers. Dive into the specifics of Al-Babtain Power and Telecommunications here with our thorough health report. Review our historical performance report to gain insights into Al-Babtain Power and Telecommunications''s past performance. Aryt Industries Simply Wall St Value Rating: ★★★★★☆ Overview: Aryt Industries Ltd. specializes in the development, production, and marketing of electronic thunderbolts for the defense market in Israel, with a market cap of approximately ₪3.41 billion. Operations: Aryt generates revenue primarily from its detonators segment, reporting sales of ₪126.54 million. The company's market capitalization stands at approximately ₪3.41 billion. In the bustling Aerospace & Defense sector, Aryt Industries stands out with a remarkable earnings growth of 458.5% over the past year, far surpassing the industry average of 45.6%. Despite its small size, it trades at an attractive valuation, currently 80.1% below its estimated fair value. The company has managed to keep its debt in check with a debt-to-equity ratio climbing only slightly to 4% over five years and benefits from having more cash than total debt. However, investors should be cautious about its highly volatile share price observed in recent months. Click to explore a detailed breakdown of our findings in Aryt Industries' health report. Assess Aryt Industries' past performance with our detailed historical performance reports. Where To Now? Take a closer look at our Middle Eastern Undiscovered Gems With Strong Fundamentals list of 224 companies by clicking here. Already own these companies? Link your portfolio to Simply Wall St and get alerts on any new warning signs to your stocks. Enhance your investing ability with the Simply Wall St app and enjoy free access to essential market intelligence spanning every continent. Interested In Other Possibilities? Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include IBSE:BESLR SASE:2320 and TASE:ARYT. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@