logo
flyadeal receives milestone 40th aircraft in France

flyadeal receives milestone 40th aircraft in France

Arab News5 days ago
flyadeal, Saudi Arabia's fast-growing low-cost airline, has taken delivery of its newest and milestone 40th aircraft in a ceremony attended by employees flown specially to France for the handover.
Thirteen staff, including crew and competition winners chosen in a lucky draw from across the company, were given a behind-the-scenes tour of Airbus' aircraft assembly plant in Toulouse, southern France, before taking the delivery flight back to Saudi Arabia.
The airline's 29th A320neo, named Al-Faras ('The Horse'), is part of flyadeal's 40-strong narrowbody fleet that also includes 11 of the A320ceo variant.
Captain Naif Almatrafi, director of operations, flyadeal, was handed over the keys to the airline's latest flying asset by Airbus management before commanding the aircraft for the near six-hour flight to Jeddah. He was joined in the cockpit by co-pilot Lawrence Itani from Lebanon.
Steven Greenway, flyadeal CEO, said: 'An incredibly proud moment for the flyadeal family to now operate a fleet of 40 aircraft in such a short time of less than eight years since our very first flight. It's an amazing achievement, a great milestone, and one to build on as we continue to expand with vigor to meet our growth targets.
'What's even more special is we flew a number of our employees to Toulouse for a memorable trip to see firsthand the hard work that goes into planning, building, assembling and delivering an aircraft. Boarding the aircraft as special passengers for the journey back to the Kingdom was a bonus dream flight to cherish. Thanks to our partners at Airbus for their hospitality in supporting the visit.'
Captain Abdulaziz Bahri, flyadeal chief operating officer, added: 'Being the backbone of our fleet, the A320neos have demonstrated operational resilience, great performance efficiency and, importantly, contributed significantly to punctuality as reflected in our extremely consistent and above industry average on-time departure and arrival data, which only last month showed we were the world's most punctual airline.'
flyadeal has rapidly developed into the Middle East's fastest growing airline operating its young fleet from bases in Jeddah, Riyadh and Dammam to more than 30 year-round and seasonal destinations across Saudi Arabia, and in the Middle East, Europe, North Africa and South Asia. By 2030, in line with Saudi Vision 2030, flyadeal expects to triple its network to over 100 destinations and more than 100 aircraft.
As part of future fleet requirements, flyadeal placed its largest-ever order last year for 51 Airbus A320 family aircraft, comprising 12 A320neos and 39 larger A321neos, with deliveries scheduled to begin in 2027.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

French PM Says EU-US Trade Deal an Act of ‘Submission' and a Dark Day for Europe
French PM Says EU-US Trade Deal an Act of ‘Submission' and a Dark Day for Europe

Asharq Al-Awsat

time6 minutes ago

  • Asharq Al-Awsat

French PM Says EU-US Trade Deal an Act of ‘Submission' and a Dark Day for Europe

France called a framework trade deal between the United States and European Union a "dark day" for Europe, saying the bloc had caved in to US President Donald Trump with an unbalanced deal that slaps a headline 15% tariff on EU goods while sparing US imports from any immediate European retaliation. The criticism from Prime Minister Francois Bayrou followed months of French calls for EU negotiators to take a tougher stance against Trump by threatening reciprocal measures — a position that contrasted with the more conciliatory approaches of Germany and Italy. "It is a dark day when an alliance of free peoples, brought together to affirm their common values and to defend their common interests, resigns itself to submission," Bayrou wrote on X of what he called the "von der Leyen-Trump deal". The high-level French criticism, and President Emmanuel Macron's silence since the deal was signed between Trump and European Commission President Ursula von der Leyen, stood in contrast with the more benign reaction from Berlin and Rome. French government ministers acknowledged the agreement had some benefits, including exemptions for sectors such as spirits and aerospace, but said it remained fundamentally unbalanced. "This state of affairs is not satisfactory and cannot be sustained," French European Affairs Minister Benjamin Haddad said on X, urging the EU to activate its so-called anti-coercion instrument, which would allow for non-tariff retaliation. Trade Minister Laurent Saint-Martin criticized the EU's handling of the negotiations, saying the bloc should not have refrained from hitting back in what he described as a power struggle initiated by Trump. "Donald Trump only understands force," he told France Inter radio. "It would have been better to respond by showing our capacity to retaliate earlier. And the deal could have probably looked different," he added. Macron had said that the EU should respond in kind if the United States slapped tariffs on EU goods, and apply equivalent measures on US imports into the bloc, in particular on services, in which the US enjoys a surplus with the EU. But the softer line advocated by German Chancellor Friedrich Merz and Italian Prime Minister Giorgia Meloni, whose countries are more dependent than France on exports to the US, prevailed.

French PM slams EU-US trade deal as ‘submission'
French PM slams EU-US trade deal as ‘submission'

Al Arabiya

time6 minutes ago

  • Al Arabiya

French PM slams EU-US trade deal as ‘submission'

French Prime Minister Francois Bayrou on Monday slammed a weekend trade deal between the United States and the European Union as a 'dark day' and tantamount to 'submission.' 'It is a dark day when an alliance of free peoples, united to affirm their values and defend their interests, resorts to submission,' said Bayrou in a post on X of the accord thrashed out Sunday by US President Donald Trump and European Commission President Ursula von der Leyen, which fixed a baseline tariff of 15 percent on EU exports to the US.

Saudi PIF named most valuable and fastest-growing sovereign wealth fund
Saudi PIF named most valuable and fastest-growing sovereign wealth fund

Arab News

time6 minutes ago

  • Arab News

Saudi PIF named most valuable and fastest-growing sovereign wealth fund

RIYADH: Saudi Arabia's Public Investment Fund has been named the most valuable and fastest-growing sovereign wealth fund in the world, with a brand value of $1.2 billion, a new report showed. According to Brand Finance's 2025 Asset Management and Sovereign Wealth Fund 50 report, PIF also secured seventh place globally in brand value-to-assets under management ratio, making it the only SWF to enter the top 10 across both asset management and SWF categories. PIF's strong brand growth reflects its ranking as the fourth-largest sovereign wealth fund globally, as reported in Global SWF's July update. With assets under management exceeding $1 trillion, the fund now ranks just behind Norway's Government Pension Fund Global and two Chinese entities — the State Administration of Foreign Exchange and the China Investment Corporation — surpassing regional peers such as the Abu Dhabi Investment Authority and the Kuwait Investment Authority. The report from Brand Finance also highlighted the role of high-profile sports partnerships in elevating brand value. 'In 2024, PIF signed groundbreaking global partnerships accelerating the growth of sports with ATP and WTA tennis, Concacaf and Formula E, Extreme E and E1 under the E360 umbrella while its ownership of LIV Golf is helping to expand the game's audience around the world,' Brand Finance CEO David Haigh said. PIF's brand growth was underpinned by strong scores in brand awareness, purpose, and its commitment to long-term value creation. It has seen substantial expansion in its portfolio, driven by the maturation of key projects and robust performance from its portfolio companies. The Saudi wealth fund holds an A+ brand strength rating, with its Brand Strength Index rising to 62.9 out of 100 in 2025. Additionally, PIF's ownership of LIV Golf continues to expand the game's global audience and bolster its brand visibility. BlackRock retained its position as the world's most valuable asset management brand for the second consecutive year, with its brand value rising 17 percent to $8.3 billion, according to the Brand Finance report. The increase is attributed to a surge in AUM, strategic acquisitions in private markets, and sustained leadership in technology and artificial intelligence. In the asset management space, JP Morgan Asset Management ranked second globally with a brand value just under $7.2 billion, reflecting a 3 percent year-on-year increase. Vanguard held third place with a brand value of $6 billion, unchanged from 2024. While BlackRock trails JP Morgan in terms of brand strength — scoring 87 out of 100 to JP Morgan's 87.6 — both firms retained an AAA brand strength rating. Haigh noted the strategic importance of sports affiliations in brand development. 'Formula 1 and football are powerful and popular ways for asset managers and sovereign wealth funds to raise their international profiles in a way that is consistent with the brands' wealth and stature,' Haigh said. He cited JP Morgan's banking unit Chase's recent sponsorship of Arsenal FC's VIP Lounge as an example of how these investments can significantly boost brand recognition among targeted audiences. Among sovereign wealth funds, the Abu Dhabi Investment Authority was identified as the strongest brand in terms of BSI, with a score of 64.1, also earning an A+ rating. PIF remains the leader in overall brand value within the SWF category, reflecting the fund's expanding global influence and strategic visibility.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store