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  • Saudi Arabia airline Flynas confirms plans to launch IPO this year

    Saudi Arabia's low-cost airline Flynas on Tuesday confirmed plans to list its shares on the Tadawul stock exchange this year, amid the kingdom's ambitions to grow its aviation sector and a boom in initial public offerings in the country.

    Flynas, which is backed by billionaire businessman Prince Alwaleed bin Talal, recorded a 32 per cent annual increase in revenue to reach 6.3 billion Saudi riyals ($1.68 billion) in 2023, its chief executive Bander Al Mohanna told the Airline Economics conference in Riyadh.

    The carrier revealed its financial results for the first time ahead of the anticipated IPO.

  • Saudi Arabia: Flynas airline receives the 50th Airbus A320neo

    Saudi low-cost airline Flynas has received its 50th A320neo airliner from Airbus, out of an order of more than 100 aircraft, as it continues its growth and expansion plan.

  • Saudi airline flynas carries over 11m passengers in 2023, up 28%

    Saudi airline flynas on Monday reported record results for 2023, with passenger numbers rising by more than 28 percent over the previous year to more than 11.1 million. The low-cost carrier took delivery of 19 new aircraft during the year, increasing its fleet size to 64, a rise of more than 35 percent. In a statement, flynas said that it was moving forward with a strategic plan for growth and expansion under the slogan “We Connect the World to the Kingdom.”

  • Saudi airline flynas carries over 11m passengers in 2023, up 28%

    Saudi airline flynas on Monday reported record results for 2023, with passenger numbers rising by more than 28 percent over the previous year to more than 11.1 million. The low-cost carrier took delivery of 19 new aircraft during the year, increasing its fleet size to 64, a rise of more than 35 percent. In a statement, flynas said that it was moving forward with a strategic plan for growth and expansion under the slogan “We Connect the World to the Kingdom.”

  • Saudi Carrier Flynas Hires Goldman, Morgan Stanley for Potential IPO Next Year

    Saudi Arabian low-cost carrier Flynas has hired Goldman Sachs Group, Morgan Stanley and Saudi Fransi Capital for a potential initial public offering on the Saudi Exchange (Tadawul), according to a Bloomberg report. Flynas expects to go public next year. Earlier reports had suggested that Saudi Arabian sovereign wealth fund — Public Investment Fund (PIF) had been in talks to buy a stake in Flynas. This week, the airline announced taking delivery of three Airbus A320neo aircraft, further upscaling its fleet to 63 aircraft.

  • Saudi Carrier Flynas Hires Goldman, Morgan Stanley for Potential IPO Next Year

    Saudi Arabian low-cost carrier Flynas has hired Goldman Sachs Group, Morgan Stanley and Saudi Fransi Capital for a potential initial public offering on the Saudi Exchange (Tadawul), according to a Bloomberg report. Flynas expects to go public next year. Earlier reports had suggested that Saudi Arabian sovereign wealth fund — Public Investment Fund (PIF) had been in talks to buy a stake in Flynas. This week, the airline announced taking delivery of three Airbus A320neo aircraft, further upscaling its fleet to 63 aircraft.

  • Saudi Arabia: Flynas Taps Goldman, Morgan Stanley for IPO

    Saudi Arabia’s Flynas, backed by billionaire Prince Alwaleed Bin Talal, hired Goldman Sachs Group Inc., Morgan Stanley and Saudi Fransi Capital for a potential initial public offering in Riyadh. The low-cost airline could go public as soon as next year, according to a statement from the company in response to questions from Bloomberg.

  • flynas Becomes 1st Saudi Airline To Join UN Tourism Organization

    Over the past few months, the airline has forged closer ties with the United Nations’ environmental and tourism agencies, including becoming the first Middle Eastern low-cost carrier to join forces with the United Nations Global Compact (UNGC) in August. The latest update sees flynas align with the UNWTO as an affiliate member, a first for Saudi Arabia.

  • Saudi budget carrier flynas signs deal for 30 Airbus jets – state TV

    Saudi budget airline flynas has signed a 14 billion riyal ($3.73 billion) agreement with Airbus to buy 30 aircraft, Saudi state TV reported on Monday.

  • Saudi Arabia’s Flynas in Talks With Airbus About Placing Order

    Saudi Arabian low-cost carrier Flynas is in talks for an Airbus SE jet order, according to people familiar with the matter, as airlines in the country bulk up operations to better compete with regional rivals. The carrier may announce an accord with the European planemaker as soon as the Paris Air Show starting early next week, said the people, asking not to be identified as discussions are confidential. The carrier said previously that it was considering establishing local units in two additional countries as part of a plan to become the Middle East’s largest discount carrier.