Latest news with #Flynas
Time Out Abu Dhabi
9 hours ago
- Time Out Abu Dhabi
No Wizz Air, no problem: Here's where you can still get cheap flights from Abu Dhabi
Wizz Air might be winding down its Abu Dhabi operations by September 1, but that doesn't mean affordable getaways are off the table. The ultra-low-cost carrier may have been a favourite among UAE travellers for wallet-friendly fares and direct routes, but thankfully, it's not the only game in town for cheap flights. From short hops to Saudi Arabia to summer escapes in Salalah, there are still plenty of airlines offering cheap flights from Abu Dhabi and nearby airports. Whether you're planning a quick break, visiting family, or escaping the heat, these budget carriers are keeping the UAE skies open (and affordable). Here's where to look if you still want to fly cheaply. Cheap flights from Abu Dhabi Flyadeal: From Dhs189 to Riyadh Saudi-based Flyadeal is one of the most affordable options out there, with flights from Dubai to Riyadh starting at just Dh189. It's perfect for a weekend city escape or a quick business trip across the border. Flynas: From Dhs272 to Madinah Another low-cost Saudi airline, Flynas offers fares to Madinah from Dh272. Ideal for religious travel or visiting family, especially during peak pilgrimage periods. SalamAir: From Dhs321 to Salalah Oman's SalamAir continues to be a top pick during Khareef season, with flights from Dubai to Salalah starting at Dh321. If you're craving misty mountains, cooler temperatures and lush green landscapes, this one's for you. Air Arabia: From Dhs312 to Baku Air Arabia flies to dozens of destinations – and Baku is one of its most popular routes. With fares starting at Dhs312, it's a solid option for Abu Dhabi travellers looking to explore the Caucasus without stretching the budget. IndiGo: From Dhs311 to Delhi Heading to India? IndiGo offers flights from Abu Dhabi to Delhi from Dh311. It's no-frills flying, but still one of the most cost-effective ways to travel home or take a cultural city break. Fly Jinnah: From Dhs230 to Karachi A newer name on the low-cost circuit, Fly Jinnah offers Sharjah-to-Karachi flights starting at Dh230. It's a great pick for travellers heading to Pakistan on a budget. Etihad Airways: From Dhs142 to Kuwait Flying out of Abu Dhabi to Kuwait City, Jazeera Airways offers fares from Dhs142. Quick, convenient and still on the lower end of the price spectrum. If you're wondering about other ways to save on flights, it all comes down to timing and flexibility; avoiding checked bags can save you a lot, as can exploring alternative airports. And don't forget to sign up for fare alerts and download airline apps – many flash sales are announced with little warning. Wizz Air's exit may be a blow for some frequent flyers, but the good news is that the UAE remains a hub for affordable travel. With a little planning and flexibility, your next adventure could still be just a few hundred dirhams away. Need some travel inspo? Travelling from Abu Dhabi is about to be so much faster Zayed International Airport is the world's first airport to make this change 18 countries offering visa-on-arrival to UAE residents Here's where to go UAE citizens now get visa-on-arrival for India: a game-changer for travellers That quick trip to India just got even easier
Arabian Post
2 days ago
- Business
- Arabian Post
GCC IPO Market Sees Largest-Yet First Half, Despite Dip in Proceeds
Arabian Post Staff -Dubai GCC countries secured $3.4 bn from 24 initial public offerings in the first half of 2025, down 6% from $3.6 bn over 23 listings a year earlier, according to a report by Kuwaiti research firm Markaz. Saudi Arabia drove the surge, contributing $2.8 bn through 22 IPOs—an increase of 36% year‑on‑year—while the UAE and Oman saw more subdued performances. Oil‑price volatility, US tariff threats and global trade uncertainty weighed on market sentiment, but issuance volumes rose. The number of offerings edged higher to 24 from 23 in H1 2024, illustrating issuer appetite amid wider economic headwinds. ADVERTISEMENT Saudi listings captured 85% of the total proceeds, reinforcing its dominance in the regional IPO pipeline. The Kingdom raised $2.8 bn, up from $2.1 bn in the first half of 2024, with 22 issuances compared to 19 a year ago. The UAE saw a substantial 88% drop in IPO proceeds, with just one public offering—Alpha Data—raising $163 m in Abu Dhabi. Oman followed with the debut of Asyad Shipping Company, generating $333 m on the Muscat bourse. No IPOs were recorded in Kuwait, Qatar or Bahrain during this period. Sector analysis reveals the industrials segment led with $1.4 bn in proceeds, bolstered by Flynas and Asyad Shipping Company. Real estate followed with demand for development and construction offerings, while healthcare IPOs collected $505 m. Financial services and technology contributed $408 m and $204 m respectively. Performance after listing was mixed. Ten of the 24 companies saw positive returns by the end of June. Asyad Shipping led the pack, with its stock surging 835% since its March 12 listing. Umm Al Qura in Saudi Arabia recorded a 51% gain. On the downside, Hedab Alkhaleej, Dkhoun National Trading and Service Equipment fell by 30%, 27% and 26% respectively. Flynas edged slightly lower by 0.2%, despite an initial dip. Wider equity market performance across the region showed divergence. Kuwait's bourse rose 18.1% year‑to‑date, followed by Dubai, Abu Dhabi and Qatar, while Oman, Bahrain and Saudi Arabia retreated by 1.7%, 2.1% and 7.6% respectively. Geopolitical shocks—including renewed US tariff threats and oil price fluctuations— exerted pressure on national indices. On Monday, Saudi Arabia's Tadawul shed 0.2%, while Dubai, Abu Dhabi and Qatar all fell in the range of 0.3–0.5%. Investors are watching US inflation signals and Fed decisions closely, given the peg of Gulf currencies to the dollar. Despite softer proceeds overall, the strong issuance tally suggests issuers seized a narrow window before heightened uncertainty. A PwC analysis of Q1 showed GCC IPOs rose 33%, raising $1.6 bn from 11 deals, with Saudi Arabia capturing nearly 70% of that total. Looking ahead, Saudi Arabia is expected to maintain momentum, driven by privatisation efforts and a diverse pipeline of government-linked listings led by the Public Investment Fund. The UAE is projected to ramp up activity in industrials and tech, while Kuwait is implementing regulatory reforms to stimulate listings. Market analysts caution that global headwinds remain. PwC flagged how tariff announcements and macroeconomic instability continue to disrupt IPO sentiment globally. Within the GCC, sustained oil-price volatility and tightening monetary conditions add complexity. Nevertheless, Gulf capital markets have demonstrated resilience. Encouraged by diversified sector participation and healthy post-listing gains, policymakers and market participants appear poised to capitalise on remaining windows of stability.
Zawya
2 days ago
- Business
- Zawya
Saudi's Sport Clubs fit for debut: IFR
The retail tranche of Sport Clubs Company's SR257.4m (US$69m) IPO was nearly five times covered, marking the third Tadawul listing in a row in which retail demand was not sufficient to cover the whole deal. The Saudi fitness centre operator doubled the size of the retail offering to 20% of the IPO due to robust demand. Retail tranches have typically been 10% but lately this has increased to 20%, which has coincided with cooling in retail interest. Deals are still attracting robust demand compared to other countries but are short of the double-digit levels that had become the norm. IPOs for low-cost carrier Flynas and hospital group Specialized Medical Company both lacked enough demand to cover the whole deal and have traded poorly, down 3% and 13.3%, respectively, as of Monday. Retail demand for SCC totalled SR247.7m for 6.86m shares at SR7.50 each. There were 259,690 retail investors participating who were allocated 10 shares each, with the rest awarded pro rata. Institutional demand continues to be robust, with SCC earlier attracting demand of SR11.35bn/US$3bn, around 45 times' coverage of the 80% allocated to those investors. The 34.3m shares in the IPO represent a 30% free-float. A trading date is yet to be set. BSF Capital is running the IPO.
Arabian Business
3 days ago
- Business
- Arabian Business
GCC IPOs raise $3.4bn in H1 2025 as Saudi Arabia dominates regional listings
The GCC region recorded 24 initial public offerings in the first half of 2025, raising a total of $3.4bn, according to a new report by Kuwait Financial Centre (Markaz). This marks a 6 per cent year-on-year drop in IPO proceeds, compared to $3.5bn raised from 23 IPOs during the same period last year. Despite the modest decline overall, Saudi Arabia continued to dominate the regional IPO landscape, while the UAE saw an 88 per cent decrease in proceeds compared to the first half of 2024. Gulf IPO proceeds by country Saudi Arabia was the clear leader, accounting for 85 per cent of total IPO proceeds in the region. Saudi Arabia: $2.8bn from 22 IPOs (Up 36 per cent YoY) UAE: $163m from 1 IPO – Alpha Data, a software firm (Down 88 per cent YoY) Oman: $333m from 1 IPO – Asyad Shipping Company Kuwait, Qatar, Bahrain: No offerings in H1 2025 The Industrials sector was the top performer, raising $1.4bn – nearly 43 per cent of all proceeds – led by Flynas and Asyad Shipping. Sector Proceeds Percentage share Industrials $1.4bn 43 per cent Real estate $576m 17 per cent Healthcare $505m 15 per cent Financial services $408m 12 per cent Technology $204m 6 per cent Consumer staples $136m 4 per cent Materials $102m 3 per cent Consumer discretionary $34m 1 per cent Of the 24 IPOs, 10 recorded positive returns by the end of H1 2025. Top performers: Asyad Shipping Company: +835 per cent since March 12 listing Umm Al Qura (Saudi Arabia): +51 per cent Underperformers Hedab Alkhaleej Trading Co.: –30 per cent Dkhoun National Trading Company: –27 per cent Service Equipment Co.: –26 per cent Flynas: –0.2 per cent overall (despite brief first-day drop of 3.4 per cent) GCC market performance – H1 2025 Market indices showed mixed results in the first half of 2025: Market YTD performance Boursa Kuwait +18.1 per cent Dubai Financial Market +10.6 per cent Abu Dhabi Exchange (ADX) +5.7 per cent Qatar Stock Exchange +1.7 per cent Muscat Securities Market –1.7 per cent Bahrain Bourse –2.1 per cent Saudi Tadawul –7.6 per cent Saudi Arabia is expecting to continue its dominance in the IPO market with strong activity across multiple sectors by PIF-led listing while the UAE expects to witness activity in the industrials and technology sectors. Moreover, Kuwait's Capital Markets Authority has officially launched a new regulatory framework to support the listing and trading of emerging companies on Boursa Kuwait in hopes to encourage public listings and enhance the Kuwaiti market
Argaam
08-07-2025
- Business
- Argaam
Sport Clubs offers 6.86M shares at SAR 7.5 to retail investors
Sport Clubs Co. launched a retail offering of 6.86 million shares on the Main Market (TASI) today, on July 8, pricing the shares at SAR 7.5 each, as set through the book-building process. The retail subscription period will be open for one day only. The shares allocated to individual subscribers represent 20% of the total shares on offer. For More IPOs In March, the Capital Market Authority (CMA) approved the company's application to list and offer 34.32 million shares on TASI. The offer represents 33% of Sport Clubs' pre-IPO capital of SAR 104 million, divided into 104 million shares with a par value of SAR 1 each. Post-IPO, the offering will account for 30% of the company's enlarged capital following the issuance of new shares. The institutional tranche closed last week, with the offering covered approximately 44.1 times the total number of shares on offer. Sport Clubs will be the seventh company to list on TASI this year, following the IPOs of Derayah Financial on Feb. 20, Arabian Company for Agricultural & Industrial Investments (Entaj) on Feb. 26, Umm Al Qura for Development and Construction Co. (Masar) on May 5, United Carton Industries Co. (UCIC) on May 12, Flynas Co. on May 28, and Specialized Medical Co. (SMC) on June 15. Tadawul witnessed 14 IPOs last year, following listings by Middle East Pharmaceutical Industries Co. (Avalon Pharma) on Jan. 30, Modern Mills for Food Products Co. on March 5, Miahona Co. and Dr. Soliman Abdulkader Fakeeh Hospital Co. (Fakeeh Care) on May 21, Saudi Manpower Solutions Co. (SMASCO) on May 26, Al Taiseer Group Talco Industrial Co. (TALCO) on May 28, Rasan Information Technology Co. on May 29, Almajed for Oud Co. on Sept. 15, Arabian Mills Co. on Sept. 18, Fourth Milling Co. (MC4) on Oct. 2, Tamkeen Human Resources Co. on Nov. 5, United International Holding Co. on Nov. 19, Almoosa Health Co. on Dec. 23, and Nice One Co. on Dec. 24.
