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Saudi Arabia's flynas Receives 2 Airbus A320neo

Nas Aircraft, the Saudi national economic carrier (Middle East)
Nas Aircraft, the Saudi national economic carrier (Middle East)
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Saudi Arabia's flynas Receives 2 Airbus A320neo

Nas Aircraft, the Saudi national economic carrier (Middle East)
Nas Aircraft, the Saudi national economic carrier (Middle East)

The Saudi budget airline flynas announced Monday that it had acquired two new Airbus A320neo aircraft, representing the third batch of 19 aircraft of the same model scheduled to be received this year.

Flynas signed an agreement with Airbus during the Paris Airshow to purchase 30 new A320neo aircraft as part of the national carrier's plans to increase its fleet.

Saudi Aviation announced that the size of the fleet has increased to 51 aircraft, up 96 percent in two years, compared to its size of 26 aircraft in the first quarter of 2021.

The two new A320neo aircraft arrived from Toulouse, France, and landed at King Khalid International Airport in Riyadh, bringing the number of aircraft delivered by flynas to seven; five are A320neo and two A330.

Flynas CEO Bander al-Mohanna announced that the airline received the second batch of A320neo aircraft in less than a month, within days of signing the agreement to purchase 30 new aircraft.

Mohanna affirmed that the purchase asserts the company's endeavor to support growth with modern and efficient operational capabilities, equipped with the latest technology as part of the strategy for growth and expansion under the slogan "We Connect the World to the Kingdom."

The CEO noted that the increase in the fleet size by adding more A320neo next-generation aircraft indicates the commitment to maintaining the position regionally and globally.

Skytrax, the international air transport rating organization, announced flynas as the 4th Best Low-Cost Airline in the World and kept its leading position as the Best LCC in the Middle East for 2023, for the sixth time in a row.

Last year, flynas' board of directors agreed to increase its orders to 250 new aircraft, making the Saudi carrier the largest budget carrier in the Middle East and North Africa.

The A320neo is a single-aisle aircraft popular with airlines for its fuel efficiency and low operating costs, reinforcing flynas' sustainability and environmental protection.

Flynas currently connects more than 70 domestic and international destinations, with more than 1,500 weekly flights.

Since its establishment in 2007, flynas has transported more than 60 million passengers and aims to reach 165 domestic and international destinations, in line with Vision 2030.

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15th Turkish-Arab Economic Cooperation Forum Kicks Off in Istanbul

Aboul Gheit addressing the opening session of the forum (Arab League - X)
Aboul Gheit addressing the opening session of the forum (Arab League - X)
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15th Turkish-Arab Economic Cooperation Forum Kicks Off in Istanbul

Aboul Gheit addressing the opening session of the forum (Arab League - X)
Aboul Gheit addressing the opening session of the forum (Arab League - X)

The Secretary-General of the Arab League, Ahmed Aboul Gheit, stressed the need for Arab-Turkish economic cooperation to extend beyond trade into broader areas that drive sustainable economic development for both sides.

Speaking at the 15th Turkish-Arab Economic Forum in Istanbul, Aboul Gheit emphasized the importance of collaboration in infrastructure, clean energy, green technology, and services such as tourism and fintech. He also highlighted the potential for joint efforts in scientific research and innovation aimed at mutual economic benefit.

Aboul Gheit pointed out the significant growth in trade between the Arab world and Türkiye in recent years. In 2022, Turkish exports to Arab countries amounted to $46 billion, while Arab exports to Türkiye reached $36 billion, representing a notable share of both sides’ overall trade. However, he urged expanding this relationship to include sectors like energy, technology, and logistics, leveraging the strategic geographical position of both regions as a crucial economic bridge connecting Asia, Europe, and Africa.

The forum, themed “Türkiye and the Arab World: A Global Corridor in Investment, Trade, and Technology,” was organized with the support of Türkiye’s Ministry of Treasury and Finance, the Ministry of Foreign Affairs, and other major regional institutions. It aimed to explore new opportunities in emerging sectors such as green energy, fintech, logistics, and capital markets, while addressing the regional and global economic challenges impacting both sides.

Turkish Minister of Treasury and Finance Mehmet Simsek acknowledged the uncertainty facing the global economy, which is limiting growth, especially in global trade. He also noted the rapid advancements in artificial intelligence, which are expected to reshape industries and societies. Simsek emphasized the need for Türkiye and the Arab world to capitalize on their potential for economic integration, particularly in this time of global economic shifts.

For his part, Egyptian Finance Minister Ahmed Kojak underlined Egypt’s efforts to ensure financial stability, production growth, and export competitiveness. He pointed to Egypt’s role in regional cooperation, highlighting initiatives such as the electricity grid connection with Saudi Arabia, which showcases the potential for regional collaboration in energy.

Tunisian Minister of Economy and Planning Samir Abdelhafidh focused on the advantages of developing economic corridors between Türkiye and the Arab world, particularly through free trade agreements, while Iraqi Finance Minister Taif Sami Mohammed stressed Iraq’s openness to cooperation with Türkiye, noting the country’s strategic position for global trade.

In turn, Kuwaiti Finance Minister Noura Suleiman Al-Fusam highlighted the need to remove trade barriers to increase interactions between Türkiye and the Arab world, with a focus on fostering investments.