KUWAIT CITY — Kuwait International Airport is open and operating today, with commercial flights continuing their phased recovery after a nearly two-month suspension triggered by regional security concerns tied to tensions with Iran.

The airport reopened its airspace on the evening of Thursday, April 23, 2026, ending one of the longest temporary closures in the facility’s modern history. Passenger flights resumed in stages starting Sunday, April 26, with operations initially limited to Terminals 4 and 5 serving selected destinations.

As of May 18, 2026, Kuwait International Airport remains in Phase 2 of its restart, with Kuwait Airways operating from Terminal 4 and Jazeera Airways based in Terminal 5. Both carriers are gradually expanding their routes and flight frequencies as the facility continues its slow return to normal service.

The two-month suspension, which began February 28, 2026, was a precautionary measure imposed amid regional developments and conflict-related security threats. More than 200,000 passengers were affected during the closure, with many travelers rerouted through Dubai, Doha and Riyadh while Kuwait Airways operated a temporary dual-hub model from bases in other Gulf states.

Director General of Civil Aviation officials have described the current phase as a “careful and gradual return to service,” emphasizing that safety remains the absolute priority as the airport restores full capacity.

Phase 2 launched on May 3, 2026, expanding the number of destinations served by both Kuwait Airways and Jazeera Airways. The airport’s airspace now supports 29 Kuwait Airways routes and 27 Jazeera Airways destinations, according to travel industry tracking data.

International carriers including Emirates have resumed limited operations, though many routes remain at reduced frequencies compared to pre-closure levels. Passengers are being advised to check directly with airlines for real-time flight updates, as schedules remain fluid during the recovery period.

Jazeera Airways, Kuwait’s leading low-cost carrier, has centralized all operations in Terminal 5 and is steadily rebuilding its schedule. A company spokesperson said the airline is “thrilled to be back home” but acknowledged recovery is still in early stages, with flights initially limited to daytime hours between 6 a.m. and 6 p.m..

Terminal 1, which sustained damage during the period of heightened regional tensions, remains closed for repairs with no official reopening timeline announced. All current commercial operations are concentrated in Terminals 4 and 5.

The extended closure severely disrupted Kuwait’s connectivity during the peak spring travel period. Aviation supports tourism, trade and finance in Kuwait, and businesses reliant on air cargo reported major losses while the tourism sector saw sharp declines in visitor numbers.

The partial reopening brings some economic relief, though full recovery is expected to take several more months given that daily flight numbers remain below normal capacity. Officials anticipate a stronger rebound during the summer travel season if operations continue to scale up safely.

Enhanced security screening measures remain in place at both terminals, leading to longer processing times for passengers. Travelers are advised to arrive at least three hours before departure and to check flight statuses multiple times before heading to the airport.

The closure was prompted by regional developments including drone strikes and security threats that forced authorities to suspend operations as a precaution. Repairs to damaged infrastructure and enhanced security protocols across the airport have been major priorities for the Directorate General of Civil Aviation.

Aviation experts note that Kuwait’s experience highlights the vulnerability of critical infrastructure in geopolitically sensitive regions. The swift but cautious reopening reflects improved coordination among Gulf aviation authorities and a strong commitment to passenger safety.

For Kuwaiti and expatriate residents, the partial return of flights has been met with mixed reactions. Many welcomed the ability to fly directly again, while others voiced disappointment over limited destinations and ongoing schedule uncertainties. Social media posts showed travelers celebrating direct flights while others expressed frustration over cancellations and delays.

Regional aviation consultants view the current situation as positive but incomplete. “Kuwait’s quick decision to resume limited operations shows resilience,” said one consultant. “However, full recovery will depend on completing repairs to Terminal 1 and restoring confidence among international carriers.”

The DGCA continues working closely with airlines and international partners to expand the flight schedule safely. Officials say they are prioritizing routes with the highest demand while maintaining strict safety standards throughout the recovery process.

Looking ahead, authorities are focusing on scaling up capacity and preparing Terminal 1 for eventual reopening. Long-term development plans for the airport, including modernization projects, remain active and are expected to support future growth once full operations resume.

The incident has also prompted broader discussions about aviation resilience in the Gulf region. Neighboring countries provided support during the closure, strengthening ties among regional aviation authorities.

For travelers planning to use Kuwait International Airport in the coming weeks, the advice is clear: verify all flight details directly with airlines, allow extra time for security procedures, and remain flexible as schedules continue to evolve.

As flights slowly return and passengers begin to reconnect with the world, Kuwait International Airport’s partial reopening marks an important step toward normalcy. While challenges remain and full capacity is still some time away, today’s operations represent progress and renewed hope for Kuwait’s aviation sector and broader economy.

The skies above Kuwait are once again seeing increasing activity, symbolizing resilience and a cautious but determined return to connectivity after a difficult two-month period. Officials and airlines alike are committed to restoring full service as safely and quickly as conditions allow.

On foreign institutional investors, Arora said there is no fresh insight into their behaviour, but sentiment naturally weakens in falling markets. He remarked, “Everybody is a little bit upset… I do not have any new update.” According to him, the current phase is more about sentiment pressure than any structural shift in outlook.

On earnings, Arora noted that corporate results have actually surprised on the upside. He said, “Earnings have been better than one would have imagined,” although he added that the macro backdrop has turned less supportive in the near term. He suggested that while earnings strength was visible earlier, the current cycle is being weighed down by external conditions, even if these could improve if macro issues resolve over time.

On oil prices and currency pressure, Arora downplayed extreme concerns and emphasized that markets tend to overreact. He said, “It is all psychological,” arguing that even higher crude prices do not automatically translate into long-term economic damage. In his view, such shocks are often treated as permanent by markets, even though economies tend to adjust over time.

On portfolio positioning, Arora confirmed that his funds remain almost fully invested despite volatility. He stated, “Yes, absolutely,” and added that cash levels are minimal, saying, “Must be zero… 99% invested.” His approach, he indicated, is driven by staying invested rather than attempting to time macro swings.

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On Adani-related stocks, Arora remained strongly positive, calling it a “100%” opportunity. He suggested that institutional participation and renewed buying interest from large investors have helped ease earlier concerns and improve confidence around these names.
On infrastructure, he highlighted that the space is highly selective rather than uniformly attractive, with segments like airports and certain large enterprises standing apart from traditional road and bridge construction businesses. On private banks, he acknowledged that performance has been weak in recent years but maintained that valuations have become attractive, while also pointing out that sustained foreign institutional selling has been a key overhang on the sector.Overall, Arora’s message was that markets often amplify short-term fears while underestimating longer-term adjustments. He summed up the sentiment by saying, “It is all mental… it is psychological,” reflecting his belief that much of the current volatility is driven more by perception than lasting structural damage.

For nearly four decades, The Sunday Times Rich List has been the closest thing Britain has to a national league table of money. This year’s edition reads less like a celebration of enterprise and more like a departures board.

Revolut chief executive Nik Storonsky and the publicity-shy quant trader Alex Gerko have broken into the top 10 for the first time. But the headline story, according to the list’s compiler Robert Watts, is not who has arrived, it is who has gone.

As many as one in six of the individuals and families who appeared on the 2024 ranking are missing from this year’s edition, with the compiler warning that the figures lay bare the scale of Britain’s wealth exodus.

“Many foreign billionaires who have been living in the UK have… dropped out because they have moved away,” Mr Watts said.

The top of the table holds, but the cracks are widening

Sanjay and Dheeraj Hinduja, the British-Indian brothers behind the Mumbai-headquartered Hinduja Group, kept top spot with a combined fortune of £38bn. The rest of the podium was likewise unchanged, with the famously secretive property magnates David and Simon Reuben and Ukrainian-born industrialist Sir Leonard Blavatnik both still sitting on fortunes north of £25bn.

The most dramatic faller was Sir James Dyson. The inventor’s eponymous engineering empire was hit hard by Donald Trump’s swingeing tariff regime, and his estimated net worth nearly halved over the year from £20bn to £12bn, enough to send him tumbling from fourth to 13th. It is not the first time Sir James has tangled with policy: he has been one of the most vocal critics of Rachel Reeves’s inheritance tax changes, branding them “spiteful” and warning of the consequences for British family businesses.

City money muscles into the top 10

If old money is having a wobble, the new money minted in the City of London is flexing. Mr Storonsky cracked the top 10 in the same year his fintech juggernaut was finally granted a UK banking licence and clinched a $75bn valuation in a November funding round.

A place behind him in eighth sat Mr Gerko, the cerebral force behind XTX Markets, the quantitative trading shop that has quietly become one of the City’s biggest tax payers. His estimated fortune sits north of £16bn.

Both men were born in Russia, and both have renounced their citizenship in protest at Vladimir Putin’s illegal invasion of Ukraine — a reminder that the City’s talent pool is global, and mobile.

A tale of two exoduses

The list’s real story, however, is in the gaps.

For the first two decades of this century, Britain’s super-rich enjoyed a near-uninterrupted bull run. Rich List wealth grew by close to 600 per cent between 2000 and 2022, according to The Sunday Times. That run is now over. The number of sterling billionaires in the UK peaked at 177 in 2022; this year’s tally of 157 was barely up on 2025.

Under the survey’s rules, foreign-born residents who leave automatically fall out of the rankings, while British citizens who emigrate remain. Both groups are now visibly thinning. Mr Watts said he had seen a “sharp rise in the number of British nationals now resident in Dubai, Switzerland and Monaco”, warning the “twin exoduses” represented a worrying development for the British economy and the public finances.

His unease is echoed by international data. The Henley Private Wealth Migration Report has the United Kingdom haemorrhaging high-net-worth residents at a faster clip than any other major economy, with the UAE, Italy and Switzerland the biggest beneficiaries.

“Will more of the wealthy now set up or grow their ventures overseas and in doing so create fewer jobs here?” Mr Watts asked. “How much tax – if any – will Rachel Reeves’ Treasury be able to extract from those affluent Brits who have now left the country?”

The Reeves effect

Critics increasingly point the finger at Whitehall. The Chancellor has been accused of accelerating departures with a string of measures aimed at ultra-high-net-worth residents and their assets.

In her first Budget in October 2024, Ms Reeves pressed ahead with the abolition of the non-domicile tax regime, slapped VAT on private school fees, raised capital gains tax and tightened several inheritance tax carve-outs. Her 2025 intervention added a so-called mansion tax on properties worth more than £2m and further narrowed the inheritance tax net.

Advisers say the cumulative effect has been a stampede. Research from consultancy Chamberlain Walker, cited by Business Matters, suggests around 1,800 non-doms left Britain in the months after April’s tax changes — 50 per cent more than the Treasury had pencilled in.

The casualties include some of the City’s biggest names: former Goldman Sachs International chief Richard Gnodde and steel magnate Lakshmi Mittal, both long-standing Rich List fixtures, have moved on. Only one billionaire is recorded as having moved the other way in the past year — the new US ambassador to the Court of St James’s, Warren Stephens.

What it means for SME Britain

For the small and medium-sized businesses that read this magazine, the implications run deeper than schadenfreude over a few moving vans full of Old Master paintings.

Wealthy entrepreneurs are typically the angel investors, family-office backers and growth-stage cheque writers that smaller firms rely on when banks turn cautious. If they decamp to Dubai or Lugano, that capital tends to follow them. The same goes for the philanthropic giving, board memberships and mentoring that often anchor a city’s business community.

The harder question for the Chancellor, and for the firms that depend on a healthy ecosystem of British-based capital, is whether the additional tax raised from those who stay can outweigh the receipts and investment lost from those who leave. On the evidence of this year’s Rich List, that calculation is starting to look uncomfortable.

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