Flynas Announces 7 New Destinations, 4th Operations Base in Saudi Arabia

Madinah Airport. (Madinah Airport)
Madinah Airport. (Madinah Airport)
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Flynas Announces 7 New Destinations, 4th Operations Base in Saudi Arabia

Madinah Airport. (Madinah Airport)
Madinah Airport. (Madinah Airport)

Flynas, the national airline and the leading low-cost carrier in the Middle East and the world, added seven new routes to its network from its new operations base at Madinah Airport, starting December 2023.

Flynas is the only carrier with four operations bases across the Kingdom.

The new announcement comes within the Pilgrims Experience Program (PEP) objectives to facilitate access to the Two Holy Mosques and the National Civil Aviation Strategy.

It would enable national air carriers to contribute to connecting the Kingdom with 250 international destinations and to reach 330 million passengers and to attract 100 million tourists annually by 2030.

Managing Director of Tibah Airports Operations Company Sofiene Abdessalem recently signed a partnership agreement with CEO and Managing Director of flynas Bander al-Mohanna to launch the carrier’s newest operations base at Madinah Airport.

The base aims to diversify and increase international and domestic destinations to and from Madinah Airport. Flynas has three other operations centers in Riyadh, Jeddah, and Dammam.

The company will launch two domestic routes from Madinah to Abha and Tabuk and five international routes to Dubai, Amman, Baghdad, Istanbul, and Ankara to be operated alongside the other four existing routes from Madinah to Riyadh, Jeddah, Dammam, and Cairo.

The additions will bring the number of routes operated by flynas from Madinah to 11.

Mohanna said the launch of the new operations center coincides with taking delivery of new aircraft to further upscale flynas fleet.

"The operations from our new operations base will start with two aircraft as a first stage, and we are planning to increase our operations and fleet size and to launch more destinations to achieve our strategy ‘We Connect the World to the Kingdom’," said Mohanna.

He noted that the company aims to enhance the guests' experience with direct flights to many destinations in and outside Saudi Arabia, creating new job opportunities and increasing Saudization in the Aviation industry.

Flynas connects more than 70 domestic and international destinations with more than 1,500 weekly flights and has flown more than 60 million passengers since its launch in 2007 to reach 165 domestic and global goals, in line with the objectives of Vision 2030.



Moody's Upgrades Saudi Arabia's Credit Rating

Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
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Moody's Upgrades Saudi Arabia's Credit Rating

Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters

The credit rating agency “Moody’s Ratings” upgraded Saudi Arabia’s credit rating to “Aa3” in local and foreign currency, with a “stable” outlook.
The agency indicated in its report that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification and the robust growth of its non-oil sector. Over time, the advancements are expected to reduce Saudi Arabia’s exposure to oil market developments and long-term carbon transition on its economy and public finances.
The agency commended the Kingdom's financial planning within the fiscal space, emphasizing its commitment to prioritizing expenditure and enhancing the spending efficiency. Additionally, the government’s ongoing efforts to utilize available fiscal resources to diversify the economic base through transformative spending were highlighted as instrumental in supporting the sustainable development of the Kingdom's non-oil economy and maintaining a strong fiscal position.
In its report, the agency noted that the planning and commitment underpin its projection of a relatively stable fiscal deficit, which could range between 2%-3% of gross domestic product (GDP).
Moody's expected that the non-oil private-sector GDP of Saudi Arabia will expand by 4-5% in the coming years, positioning it among the highest in the Gulf Cooperation Council (GCC) region, an indication of continued progress in the diversification efforts reducing the Kingdom’s exposure to oil market developments.
In recent years, the Kingdom achieved multiple credit rating upgrades from global rating agencies. These advancements reflect the Kingdom's ongoing efforts toward economic transformation, supported by structural reforms and the adoption of fiscal policies that promote financial sustainability, enhance financial planning efficiency, and reinforce the Kingdom's strong and resilient fiscal position.