RIYADH — flynas, the Saudi air carrier and the leading low-cost airline in the Middle East, has announced growth in partnership with 3 aircraft lessors for sales and leaseback of total 14 new Airbus A320neo aircraft worth SR6.6 billion, for deliveries scheduled in 2022 and 2023.
The announcement made during the “Future of Aviation Forum” organized by the General Authority of Civil Aviation “GACA” from 8 to 10 Shawwal 1443 AH, 9-11 May 2022 AD in Riyadh, with flynas participation in the forum as a strategic partner.
flynas said that these 14 aircraft financing, secured with partnership from CDB Aviation, CMB Financial Leasing and Avolon Aerospace Leasing Limited, represent part of the company’s order for 120 Airbus A320neo aircraft.
Bander Almohanna, Chief Executive Officer and Managing Director of flynas said: “These agreements support flynas’ strategy to expand locally and internationally and effectively contribute to achieving the Civil Aviation Authority’s strategy that aims to reach 330 million passengers in the Kingdom annually and linking the world to the Kingdom through more than 250 destinations”.
flynas recently announced that the company’s Board of Directors had agreed to increase the volume of new orders for aircraft to 250 aircraft, with which Flynas aims to become the first low-cost airline in the Persian Gulf to enable the Kingdom of Saudi Arabia to reach its goal of 100 million annual tourists by 2030.
The Future of Aviation Forum, held in Riyadh, brought together aviation industry leaders from around the world in the public and private sectors, airline CEOs, and international regulators. The forum aimed to discuss the evolution of air travel and develop solutions for the post-pandemic industry, hosting over 120 speakers and more than 2,000 participants to discuss three principal themes; innovation, growth, and sustainability, during 40 sessions.