King Khalid International Airport in Riyadh resumed international flights after a two-week closure caused by Houthi attacks from Yemen. Terminal 2 now handles international services, following Saudi authorities’ interception of a ballistic missile and drones near Riyadh. The reopening reduces the perceived likelihood of a wider Saudi airspace closure, with November estimates putting that probability at 3.5%. Houthi threats remain, however, and future decisions by the General Authority of Civil Aviation and Saudi Air Navigation Services, as well as any diplomatic developments, could quickly change market perceptions.
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