Saudi OTA Almosafer on Track for Year-End IPO Despite Iran War Disruption

AI Summary

Saudi online travel agency Almosafer is proceeding with plans for a year-end IPO despite disruptions caused by the Iran war. The company's growth relies heavily on domestic travel demand, focusing on destinations like Makkah, the Red Sea, and Qiddiya, as outbound travel continues to be affected by the conflict.

Almosafer’s growth story now runs on domestic demand. That’s a bet on Makkah, the Red Sea, and Qiddiya outlasting a war that hit outbound travel first.