Latest news with #flynas'
Arabian Post
06-05-2025
- Business
- Arabian Post
flynas Announces Plans for Groundbreaking IPO in Saudi Arabia
Saudi Arabian budget airline flynas, under the backing of billionaire Prince Alwaleed Bin Talal, is preparing to launch an initial public offering later this month. This move marks the first IPO by a Gulf airline in nearly two decades, a significant milestone for both the airline and the broader Middle Eastern aviation industry. The airline, which has become a key player in the region's air travel market, plans to offer 51.3 million shares, equivalent to 30% of its total shareholding, to potential investors. The public offering, according to the company's announcement, will involve newly-issued shares, making up 10.2% of the stake available for purchase. The IPO is expected to draw attention not just within Saudi Arabia, but across the wider Gulf Cooperation Council and MENA regions, with investors eager to tap into the region's rapidly growing aviation and tourism sectors. As part of the offering, flynas aims to raise substantial capital, which will be instrumental in expanding its fleet and enhancing services, crucial to its long-term growth objectives. According to the airline's chief executive, Bander Almohanna, the company is poised to capitalize on the robust demand generated by Saudi Arabia's ambitious aviation and tourism initiatives. These initiatives, aligned with the kingdom's broader Vision 2030 economic diversification plan, are designed to reduce the nation's dependency on oil revenue by bolstering industries like tourism and air travel. The potential success of flynas' IPO is seen as a key indicator of investor confidence in the region, despite uncertainties caused by global factors such as trade tariffs imposed by Washington. The airline is optimistic that its position within the rapidly expanding GCC and MENA markets will mitigate such external challenges. Flynas' IPO announcement is part of a broader wave of listings by companies in Saudi Arabia, as the nation continues to foster a business-friendly environment under the leadership of Crown Prince Mohammed bin Salman. The IPO is part of the kingdom's plans to diversify its economy, attract international investment, and develop its non-oil sectors, which have gained significant momentum since the launch of Vision 2030. As part of this initiative, the Saudi government has also been encouraging state-owned companies to consider public listings to generate additional capital for development projects. Flynas, established in 2007, has grown rapidly to become one of the leading low-cost carriers in the region. The airline operates both domestic and international flights, connecting major cities across the Middle East, Asia, and North Africa. The company has benefited from Saudi Arabia's growing interest in tourism and business travel, and its positioning as an affordable travel option for customers across the region has contributed significantly to its success. The decision to go public comes amid ongoing optimism surrounding the aviation industry's post-pandemic recovery. While the airline industry faced unprecedented challenges during the global health crisis, there has been a marked rebound in passenger traffic, particularly within the GCC and MENA regions. flynas, benefiting from its budget-friendly model, has positioned itself to cater to the rising demand for air travel as regional economies recover and expand. Saudi Arabia's plans to become a global tourism hub by 2030, alongside investments in the development of new airports and travel infrastructure, have further buoyed prospects for airlines operating in the kingdom. Flynas stands to gain significantly from these developments, as it looks to capture a larger share of the burgeoning market for both leisure and business travel. The aviation market in the GCC region has seen exponential growth in recent years, driven by both tourism and business demand. Saudi Arabia, in particular, has focused its efforts on making air travel more accessible to the masses as part of its economic diversification strategy. The state's desire to increase tourism revenue to $20 billion by 2030 has created a favorable environment for the aviation sector, with investments in airports, travel hubs, and new airlines. Flynas has positioned itself strategically to benefit from this growth, capitalizing on the Saudi government's focus on air travel infrastructure. The IPO represents a significant step towards increasing its market share, further solidifying its place as a key player in the region's aviation industry. The potential for growth is also reflected in flynas' expansion plans. The airline has been aggressively increasing its fleet and network to cater to the expanding demand for affordable air travel. Flynas' fleet expansion plans include introducing new aircraft to meet the needs of an expanding customer base. The company's ability to offer low-cost options while maintaining quality service has positioned it well to compete with both regional carriers and larger international airlines. As flynas moves forward with its IPO, the airline will be keen to attract investors who share its vision of tapping into the expanding aviation and tourism markets in the GCC and MENA regions. The successful completion of the offering is expected to fuel further expansion plans, potentially enhancing its position as a regional leader in the low-cost airline segment.
Arabian Post
30-04-2025
- Business
- Arabian Post
flynas Partners with Safran to Upgrade A320neo Fleet with Z200 Seats
flynas has entered into an agreement with Safran to outfit its upcoming fleet of 60 Airbus A320neo aircraft with the latest-generation Z200 seats. The memorandum of understanding was formalised during the Arabian Travel Market in Dubai, with deliveries scheduled to commence in the latter half of 2025. Each aircraft will feature a 174-seat configuration, comprising both Economy and Premium class sections. The Premium section, spanning four rows at the front of the cabin, will offer enhanced passenger comfort with wider seat pitch, adjustable headrests, and a middle seat blocker to provide additional personal space. The Economy class will be equipped with seats designed for medium- to long-haul flights, incorporating features such as smart cushions, portable electronic device holders, dual USB-A and USB-C power ports with 60W output, lower literature pockets, coat hooks, and cup holders. Bander Almohanna, CEO of flynas, highlighted that this collaboration aligns with the airline's expansion strategy, which aims to connect Saudi Arabia with 250 international destinations, accommodate 330 million passengers, and host 100 million tourists annually by 2030. He stated that the partnership with Safran is instrumental in reimagining flynas' future cabins with smart design and advanced technologies, offering passengers a unique and comfortable travel experience. Quentin Munier, Executive Vice President of Safran Seats France, expressed enthusiasm about the collaboration, noting that this marks Safran's first partnership with flynas. He emphasized that the Z200 seats are designed to deliver benefits for both passengers and operators, enhancing comfort and operational efficiency.
Zawya
29-04-2025
- Business
- Zawya
flynas, Safran to equip next 60 A320neo airplanes with latest-generation seats
Dubai -- flynas, the Saudi air carrier and a leading low-cost airline in the Middle East and worldwide, announced the signing of an agreement with Safran, one of the world's top manufacturers of aircraft seats, to equip its new Airbus A320neo aircraft with the latest-generation seats, setting new standards for comfort in low-cost aviation. The agreement was signed during flynas' participation in the Arabian Travel Market, held in Dubai from April 28 to May 1, in the presence of flynas Chairman Ayed Al Jeaid, Managing Director and Chief Executive Officer Bander Almohanna, and Safran Seats France Executive Vice President Quentin Munier. The agreement aims to equip flynas' cabins with new seats specially designed for the airline. It includes installing economy-class seats with distinctive features, smart cushion designs, and modern technologies to enhance passenger comfort. Since flynas operates A320neo aircraft on flights of up to six hours, the new seats are suitable for medium- and long-haul journeys. 'Through our strategic partnership with Safran, we are preparing to reshape our future cabins with smart designs, stylish features, and next-level technologies,' Almohanna said. 'This partnership aligns with our growth and expansion strategy, launched in parallel with the National Civil Aviation Strategy, to connect Saudi Arabia with 250 international destinations, accommodate 330 million passengers, and host 100 million tourists annually by 2030, while supporting the objectives of the Pilgrim Experience Program to facilitate access to the Two Holy Mosques.' Munier said, 'This marks our first collaboration with flynas, and we are delighted to support its operations in the coming years.' He noted that the new Z200 seats provide benefits for both passengers and airlines. flynas is ranked as the best low-cost carrier in the Middle East and the fourth-best worldwide by Skytrax. Equipping its A320neo fleet with the new seats is part of flynas' initiative to become the world's best low-cost carrier.
Zawya
28-02-2025
- Business
- Zawya
Flynas and Bank AlJazirah ink SAR 495mln aircraft financing deal for 3 new airbus A320 NEOs
Riyadh: Flynas, the leading low-cost carrier in the Middle East, announces the successful closure of a Murabaha financing agreement with Bank Aljazira worth SAR 495 Million ($132 million) to finance the acquisition of three state-of-the-art Airbus A320neo aircraft. This initiative is part of the airline's efforts to support the Saudi financial sector and enhance its competitiveness by developing sophisticated financial products tailored for aviation. This agreement aligns with Flynas' strategy to foster stronger collaboration between the aviation industry and local financial institutions, contributing to the creation of advanced financial products that enhance the Saudi financial market and provide unique investment opportunities for the local banking sector. It also underscores Flynas' commitment to prioritizing Saudi companies in benefiting from its future expansions, thereby building a robust and integrated aviation ecosystem that supports the objectives of Saudi Vision 2030. Commenting on the agreement, Bander Almohanna, CEO of Flynas, stated: "We take great pride in strengthening our collaboration with national financial institutions such as Bank AlJazira. Through these partnerships, we aim to introduce innovative and advanced financial products that enhance the Saudi financial market and allow it to capitalize on the aviation sector's growth. We remain steadfast in our commitment to prioritizing Saudi companies in our expansion plans, ensuring the development of a robust and sustainable national aviation ecosystem aligned with Saudi Vision 2030." Almohanne added: 'In line with the directions of the General Authority of Civil Aviation (GACA), emphasizing the importance of strengthening local partnerships and developing national capabilities in the aviation sector, Flynas actively pursues this vision through continuous collaboration with Saudi financial institutions. This agreement follows a previous milestone with Saudi leasing company AviLease, where Flynas became the first airline to sign a purchase and leaseback agreement for 12 Airbus A320neo aircraft, reinforcing the role of national companies in supporting the aviation industry. The newly acquired aircraft are expected to enhance flynas' network coverage, improve operational efficiency, and elevate the passenger experience while emphasizing environmental sustainability, further demonstrating flynas' commitment to fostering innovation and growth in the Saudi aviation sector.
Zawya
14-02-2025
- Business
- Zawya
Saudi's flynas to take delivery of over 100 Airbus planes by 2030
Saudi Arabia's leading low-cost carrier flynas is likely to receive more than 100 Airbus aircraft over the next five years, as part of its broader deal for 280 Airbus jets, said a top official. The airline aims to operate over 160 aircraft by 2030 in bid to meet growth targets. The announcement today (February 13) coincided with a visit from Airbus senior management to flynas' headquarters in Riyadh. The scheduled delivery is part of its orders for 280 aircraft worth over SAR161 billion ($43 billion), one of the region's largest purchase orders, making flynas the largest owner of single-aisle airplane orders in the Middle East. The visit of the Airbus delegation coincided with flynas receiving a new Airbus A320neo airplane on February 8, bringing the total number of this type in the flynas fleet to 54. The delegation later toured flynas headquarters in Riyadh and reviewed the innovative solutions offered by the company. It also met senior flynas executives and held discussions on prospects for cooperation and strengthening their strategic relationship. The Saudi low-cost airline said it is is in line with the company's strategic growth and expansion plan, launched under the slogan "We connect the world to the Kingdom." This is in parallel with the objectives of the National Civil Aviation Strategy to enable national carriers to contribute to connecting KSA with 250 international destinations, to accommodate 330 million passengers, and to host 150 million tourists yearly by 2030, including under the Pilgrim Experience Program (PEP) to facilitate access to the two main mosques. CEO and Managing Director Bander Al Muhanna said: "We value the visit of the Airbus senior management, which reflects the position of flynas as a leading Saudi carrier at the global level and also reflects the importance of our long-term partnership that has strengthened the contribution of flynas to achieving national goals in the aviation industry." Citing the strategic relationship between Airbus and flynas since its inception, Al Muhanna said it further developed in 2016 after the signing of an agreement to purchase 120 aircraft. The partnership moved to a new level last year with the signing of an order to purchase 160 Airbus airplanes of the A320 and A330 wide-body types, he added. -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
