I was not thinking of a daily service. Egyptair operates many scheduled services between Sharm El Sheikh to Middle Eastern and European destination, like JED, LHR
, MUN, FCO
, etc and vice versa many European and M.E's carriers operate flights to SSH. Frequencies on these route tend to be 2-4x weekly but flights tend to have very high load factors (therefore generating profits).
I think Saudi, Kuwait and Lebanese tourists make up the bulk of Arab tourists to the Red Sea.