Saudi Arabia's first low-cost airline flynas confirmed it has sent out a request for proposal (RPF) to aircraft manufacturers for 30 widebody aircraft. Speaking at Airline Economics Growth Frontiers Saudi Arabia 2024 in Riyadh, flynas CEO Bander Almohanna said that the new aircraft is part of its fleet expansion for the country's Vision 2030 growth plan. According to Bloomberg, Almohanna has confirmed that the airline will launch its initial public offering (IPO) later in the year.
The airline has already received 50 aircraft with ""70 aircraft in the pipeline that we are going to receive within the next five years."" The 30 new widebodies will build upon this order. Almohanna added: ""We determined that within the next five years we will triple the number of aircraft that serve the country and will create more bases."" It currently has four bases in the Kingdom, but Almohanna said that there around two or three bases in the pipeline to be built, which will be announced later in the year. He added: ""Hopefully by the of this year, we'll announce our new order for the narrowbody.""
By 2030, the airline also seeks to add 164 routes with over 97 new destinations by 2030. Almohanna said: ""We are in full alignment with Vision 2030. We have identified every single route that we plan to travel in the next five years.""
Almohanna said that the airline's revenue grew over 30% in 2023 with an annual revenue of $1.7bn. He added that it expects annual revenue to be over $2bn in 2024.
The airline has also finished a cost transformation program that has ""achieved more than a hundred million dollar in savings and recurring costs"" that has helped place it in a ""stronger position after the pandemic"".
flynas to order 30 widebody aircraft, confirms IPO
