The development comes as attacks by Iran-backed Houthi militants in Yemen disrupt air travel and raise concerns over Saudi Arabia's ability to host major international events.
Earlier today, Bloomberg reported that Riyadh's King Khalid International Airport would continue restricting flights until further notice following repeated attacks.
Airlines have been told that landings and departures require prior permission. The airport also cannot be used as an emergency diversion point.
The airport has suffered significant damage in recent weeks, with buildings hit and at least one aircraft destroyed.
Several airlines have suspended or reduced services. Qatar Airways has halted Riyadh flights until October 24 and reduced operations to Jeddah. Etihad Airways, Akasa Air and Air India have also curtailed services.
Airport and aviation authority representatives confirmed on Monday that the airport remained shut, with no clear reopening date, Bloomberg reported.
The disruption poses a challenge for Crown Prince Mohammed bin Salman, who was expected to welcome international investors to Riyadh next week for the FII. The annual conference is a key platform for Saudi Arabia to attract global investment and promote its economic diversification plans.
Organisers had earlier considered contingency options, including a hybrid format. However, according to the latest WSJ report, an in-person event is now off the table.