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Flynas

Aviation

Flynas Overview

Flynas, founded as Nas Air in 2007, is Saudi Arabia’s first privately owned low-cost airline.

Based in Riyadh, Flynas operates over 1,500 flights weekly, covering more than 70 domestic and international destinations across the Middle East, Europe, Asia and Africa.

The airline is partly owned by Prince Alwaleed bin Talal’s Kingdom Holding Company, in which PIF purchased a 17 percent stake in 2023.

In July 2022, PIF signed its first leasing agreement with Flynas, purchasing 12 new A320neo aircraft and then leasing them to Flynas.

Flynas is increasing its fleet in an aim to become the Middle East’s largest low-cost airline currently.

In June 2023 Flynas expanded its fleet order with Airbus to a total of 120 A320neo aircraft. Then in July 2024 it signed a memorandum of understanding to buy 75 A320neos and 15 A330s.

Flynas has a codeshare agreement with Etihad that dates back to 2012. In May 2016 it signed a codeshare agreement with Turkish low-cost carrier Pegasus Airlines.

Flynas News

King Abdullah Financial District in Riyadh. The Saudi stock market is down almost 4 percent this year

Paper firm plans first Saudi IPO since global stock rout

Saudi Arabia’s United Carton Industries Company (UCIC), the largest paper packaging company in the Middle East by sales, plans to sell shares to the public to fund expansion. This is the first Saudi announcement of a planned IPO on the Saudi Exchange’s main market since a rout in global markets following Donald Trump’s near tripling […]

A Saudi farmer in a coffee plantation. Saudi chain Barn's launched in 1992 and operates 850 coffee shops in the Middle East, with 600 in the kingdom

Saudi coffee chain Barn’s plans IPO on Tadawul

Barn’s, a homegrown Saudi coffee chain, is planning an initial public offering (IPO) on the Tadawul stock exchange, with an aim to generate funds to finance Middle East expansion. It is working with Saudi regulator Capital Market Authority to meet the IPO criteria and appoint bankers for the potential offering, Bloomberg reported, citing CEO Mohammed […]

The Saudi aviation authority has set a deadline of May 21 for bids from charter airline operators

Saudi Arabia invites bids for charter airline

Saudi Arabia’s aviation regulator is inviting bids to set up a national charter airline. The General Authority of Civil Aviation opened the bid process on April 13 and has set a submission deadline of May 21, it said in a statement. All the bids will be opened on May 22. In February the regulator announced […]

AviLease will provide Turkish Airlines with a total of eight planes

PIF-backed AviLease agrees Turkish Airlines rentals

Saudi Arabia’s Aircraft Leasing Company (AviLease) has signed long-term leases with state-owned Turkish Airlines for Airbus A320neo aircraft.  Two of the aircraft have already been delivered, with the remaining six scheduled for delivery throughout 2025, the airline said in a statement. Riyadh-based AviLease’s CEO Edward O’Byrne, said these aircraft will support Turkish Airlines’ growth plans and […]

Flynas operates 1,500 flights a week with an all-Airbus fleet, connecting more than 70 domestic and international destinations

Low-cost carrier Flynas to offload 30% on Saudi bourse

Saudi low-cost carrier Flynas has received the market regulator’s approval to offload nearly a third of its shares on the local stock exchange in the latest of a series of bourse flotations. The airline, partly owned by billionaire Prince Alwaleed Bin Talal, will sell 51.3 million shares or 30 percent of its stock in an initial public […]

Kingdom Holding Company owner Prince Alwaleed Bin Talal, pictured last year at Riyadh's Kingdom Arena

Kingdom Holding to pay 2024 dividend despite revenue drop

Kingdom Holding Company (KHC), the conglomerate owned by Saudi Arabian Prince Alwaleed Bin Talal, will pay an annual dividend despite a fall in revenues for 2024. The dividend payout will reach SAR1 billion ($267 million), or 2.8 percent of its capital, the investment company said in a statement to the Saudi stock exchange on Monday. […]

Saudia is investing in 118 new Airbus and Boeing jets to replace its ageing fleet. Riyadh Air will serve the capital and become a flag carrier

Saudia ‘still a flag carrier’ ahead of Riyadh Air launch

Saudi Arabia’s flag carrier Saudia is upgrading its fleet with new Boeing and Airbus aircraft even as the government prepares to start a new airline later this year. The 80-year-old carrier has 118 aircraft on order, most of which will replace older models in its existing fleet of 147, and are scheduled to arrive through […]

Passengers board an Etihad Airways airplane at Abu Dhabi; the airline plans to carry 33 million passengers by the end of the decade

Etihad IPO likely to attract ‘significant’ investor interest

Abu Dhabi-owned Etihad Airways is likely to attract “significant” investor interest if and when it sells shares in an initial public offering expected in March in the first Gulf Arab airline IPO in almost 20 years, analysts have said. Owned by Abu Dhabi sovereign wealth fund ADQ, the airline may raise as much as $1 […]

People, Person, Accessories

Flynas secures $132m to acquire 3 A320neo aircraft

Saudi low-cost carrier Flynas has secured a sharia-compliant loan of SAR495 million ($132 million) to acquire three Airbus A320neo aircraft, the airline said in a statement. The funding has been provided by Bank AlJazira, which trades on the Saudi stock exchange, the statement said. The new aircraft are expected to support Flynas’s network coverage, improve operational […]