Report: Private jet flight from Riyadh to Europe now cost N479m as elites flee Middle East t£nsions

Riyadh has emerged as a key exit route for wealthy individuals and senior executives seeking to leave the Middle East amid escalating regional tensions.

According to Semafor, private security firms have been booking fleets of sport utility vehicles (SUVs) to transport clients to Riyadh from Dubai and then charter private planes to take them out of the region.

The report said those evacuated include senior executives at global financial institutions and high-net-worth individuals in the region for business or leisure.

Ameerh Naran, chief executive of private jet brokerage, Vimana Private, said private jets from Riyadh to Europe now cost as much as $350,000 (N479,113,600).

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“Saudi Arabia is the only real option for people who want to get out of the region right now. Private jets from Riyadh to Europe now cost up to $350,000,” he said.

Also speaking, Ian McCaul, operations and future plans director at Alma Risk, UK-based security firm, said the company has received requests from a range of clients — including families, individuals and corporate organisations — seeking assistance to leave the region.

“We’ve been approached by a mixture of clients including families, individuals, and corporations that want to get out of the region either because their fear for their safety, or for business reasons they just need to be able to travel,” McCaul said.

Private jet flights from Riyadh to Europe in January generally range from $50,000 to over $150,000 for a one-way trip, depending on aircraft size, according to Fly Elite Jet.

The surge in flight fare followed reprisal attacks by Iran on the United States (US) military bases in the Middle East on Saturday morning, with multiple explosions reported in Abu Dhabi, Manama, Doha, and Kuwait, as well as in Riyadh, Saudi Arabia.

The attack was in response to a joint missile strike by the US and Israel on Iran.

The conflict has since disrupted economic activities in the region, forcing the United Arab Emirates (UAE) to close its airspace, with Qatar Airways suspending all flights and Dubai airports shutting down operations indefinitely.