RIYADH: As part of an aggressive expansion strategy, Saudi Arabia’s low-cost airline Flynas plans to extend its operations throughout its four primary hubs: Riyadh, Jeddah, Madinah, and Dammam, a senior official said. According to the company’s official spokesman, Waleed Ahmed, in an interview with Al-Eqtisadiah, Flynas has the largest aircraft order in the Kingdom and among the largest in the Middle East, with 280 aircraft scheduled for delivery.
This comes after a significant agreement was reached with Airbus in July to purchase 160 new aircraft, comprising 130 single-aisle planes of the A320neo, A321neo, and A321LR classes and 30 wide-body A330neo aircraft. Passenger numbers on the airline have increased significantly, from over 11 million in 2023 to over 14.7 million in 2024. This indicates the low-cost carrier’s quick growth in tandem with Saudi Arabia’s efforts to establish itself as a major international travel and business hub.
“These figures highlight the company’s contribution to Vision 2030, which seeks to reach 330 million passengers and draw in over 150 million foreign travellers by that year.” Al-Eqtisadiah cited Ahmed’s statement. Additionally, he emphasised that Flynas has added four additional destinations to its summer schedule, in addition to its regular summer routes: Krakow, Poland; Geneva, Switzerland; Milan, Italy; and Rize, Turkey, as part of its ambitious strategic goal. Due to high demand from institutional and individual investors, Flynas completed its IPO last week at SR80 ($21) per share, the highest price in its specified range.
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