Saudi Arabia-headquartered flynas has announced a major expansion of its fleet with a new Memorandum of Understanding (MoU) signed with France’s Airbus for 160 jets, including 75 A320neo family aircraft and 15 A330-900 widebodies.
The all-Airbus operator also revealed that it has options for an additional 55 A320neos and 15 A330s, bringing the total potential order to 280 aircraft. The deal is valued at a staggering $13 billion at catalogue prices.
According to Airbus and flynas, this agreement will greatly expand the airline’s capacity and range, enhancing its overall fleet capabilities.
The new aircraft are set to join the carrier’s fleet to serve international, domestic, and regional routes, as announced on the fourth day of the Farnborough International Airshow in the UK.
Bander Almohanna, CEO and Managing Director of flynas said ” This agreement that we have entered into for ordering 160 Airbus airplanes helps us in our drive to transform flynas into a leading global low-cost carrier.”
We are doubling the number of Airbus aircraft we order- from 140 to 280- in an effort to attain sustainable growth on our regional and international routes covering short, medium and long-haul flights.”
Almohanna highlighted that this is the first order for the wide-body A330neo with Airbus, with deliveries beginning in 2027.
He added that this would enable us to explore different long-haul markets and offer greater seat capacity accompanied by diversified innovative products for passengers.
He also noted that the A330 will enhance their long-haul capabilities with advanced technology and efficiency, supporting their growth plans and Saudi Arabia’s pilgrim program.
Last year, during the 2023 Paris Air Show, flynas signed an agreement with Airbus for 30 additional A320neo aircraft, expanding on a previous order for 120 aircraft signed in 2016.
The MoU signing ceremony saw the presence of prominent figures such as Abdulaziz bin Abdullah Al-Duailej, President of the General Authority of Civil Aviation (GACA) of Saudi Arabia, Ayed Al Jeaid, Chairman of the Board of NAS Holding, and top Airbus officials.
“The A330neo can help grow flynas’ widebody network via the A320 family synergies”, noted Christian Scherer, Airbus Chief Executive Officer for Commercial Aircraft.
Both kinds of planes give flynas utmost flexibility or convenience as well as cost-effectiveness when expanding into new markets while giving their travellers nifty cabin experience and comfort.
We look forward to continuing our successful collaboration with flynas through this exciting new chapter.
The new A330-900 aircraft will feature a two-class configuration, accommodating up to 400 passengers, enhancing the travel experience with modern amenities and greater capacity.
In April this year, the airline also announced its intention to pursue an initial public offering (IPO) within the year. Flynas reported revenues of SR6.3 billion in 2023, marking a 32 percent increase compared to 2022.
This is the first time flynas has disclosed the size of its annual revenues, amid confirmed reports that the company is planning an IPO during 2024.
Late last year, the Saudi Arabian low-cost carrier enlisted Goldman Sachs Group, Morgan Stanley, and Saudi Fransi Capital for its potential IPO on the Saudi Exchange (Tadawul).
Since its inception in 2007, flynas has been operating over 70 domestic and international routes, conducting more than 1,500 flights per week, and has served over 78 million passengers.
This significant expansion marks a new chapter in its growth, promising greater connectivity and enhanced service for its passengers.
