Coalition Puts Riyadh Airport Attack Toll at 17 Dead as IMF Warns of Global Spillover and Banks Send Saudi Staff Home

Since Houthi missiles reached Aramco's headquarters in Dhahran this week, the damage has moved well beyond one building: flights are cancelled, banks are sending staff home, and the IMF is warning the world will feel it.

The IMF's warning

IMF Managing Director Kristalina Georgieva addressed the attacks on Wednesday at the IMF and World Bank annual meetings in Bangkok. She pointed to Saudi Arabia's weight in the global economy. "In that sense, these developments have potentially negative spillovers for everybody, everywhere," she said.

The IMF projects Saudi Arabia's economy will shrink 3.3% this year and grow 7.9% in 2027. It published those numbers Tuesday, but they were prepared before the deadly attack on Riyadh's airport on Saturday.

The recovery forecast also rests on a big assumption. It assumes the Strait of Hormuz will gradually reopen from March 2027, with shipping returning to pre-war conditions by October.

Brent crude was trading above $106 a barrel on Wednesday, up 37 cents, or 0.35%, to $106.06. Aramco shares fell 0.5% in early trading.

A higher toll at the airports

Coalition spokesperson Turki al-Maliki said the Houthis have launched 20 attacks on King Khalid International Airport in Riyadh this month. He put the toll there at 17 dead and 333 wounded. He added that attacks on Abha airport near the Yemeni border killed three and wounded 28.

Other accounts of the Saturday attack on the Riyadh airport give lower death tolls: CNN and Euronews reported 13 killed and more than 300 wounded, while other reports cited at least 12 killed, including an American citizen. The Saudi General Authority of Civil Aviation counted at least 20 killed and 356 injured in attacks on Saudi airports between Oct. 6 and Oct. 11. CNN could not independently verify the Houthi claims, and the competing tallies differ.

At least 572 flights out of Riyadh were cancelled on Tuesday. Lufthansa has suspended flights to Riyadh up to and including Nov. 18.

Business pulls back

JPMorgan and Deutsche Bank are letting Saudi-based staff work from home, three people familiar with the matter told Reuters. One of them said Franklin Templeton has temporarily closed its Riyadh office and asked staff to work from home until further notice, with no end date set.

At Aramco, two sources said operations at the Dhahran complex were continuing as normal, though some employees were told to work from home. Another said some work had moved to offices abroad. Aramco oversees its oil rigs, refineries, export terminals and pipelines from a center at the headquarters. The company had not responded to a request for comment.

Saudi Arabia's energy ministry said an administrative building at Aramco's headquarters was hit Tuesday evening, causing a limited fire, with no deaths or injuries. A person with direct knowledge told Reuters the top three floors, including CEO Amin Nasser's office, were badly damaged.

Saudi Arabia plans to let executives join its Future Investment Initiative conference online, Reuters reported, citing two people familiar with the plans. The event is due to take place later this month.

The Houthi position

The Houthis say they will not stop. On Wednesday they said they would continue targeting Saudi airports and oil facilities, and warned international shipping companies and personnel working at those sites to stay away, saying they had become "legitimate targets." Houthi official Mohammed al-Bukhaiti warned that U.S. involvement would bring a "swift and painful response" against American interests across the region.

The group also disputes the Saudi account of the Yemeni side of the fight. After Saudi strikes on a fuel depot on Tuesday, the Houthi-controlled Yemen Oil Company said the facility held no petroleum products. The Houthis said two civilians were killed and two injured. The coalition says it warned civilians to leave first and that the depot was used to support strikes on Saudi airports, energy facilities and Red Sea shipping.

Washington's next move

President Trump said Sunday the U.S. may join Saudi strikes on the Houthis. "We may. We're gonna look at it," he told reporters. On Tuesday he wrote on Truth Social that the group had "emerged again, probably at the behest of Iran," and that he "will never forget" the latest attacks. No decision has been announced.

Sports and events

The Six Kings tennis tournament has been postponed to December. Saudi official Turki Al-Sheikh claimed that boxer Canelo Alvarez still wants to fight in Riyadh on Oct. 31. WWE is still advertising Crown Jewel in Riyadh on Nov. 7. Dave Meltzer, on Wrestling Observer Radio, supported Bryan Alvarez's report that a U.S. backup location is under consideration if the show has to move.

The Saudi-led coalition also said its air defense forces intercepted and destroyed a drone targeting the Eastern Province on Thursday. Whether the Oct. 31 and Nov. 7 events go ahead in Riyadh will show how much confidence remains in the kingdom's air defenses. Lufthansa's Nov. 18 suspension date gives one more marker.