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Saudi MODON Attracts Investments Worth $34.6 Mn to Localize Aircraft Industries

A view of an exhibit at the World Defense Show 2024 in Riyadh. (Asharq Al-Awsat)
A view of an exhibit at the World Defense Show 2024 in Riyadh. (Asharq Al-Awsat)
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Saudi MODON Attracts Investments Worth $34.6 Mn to Localize Aircraft Industries

A view of an exhibit at the World Defense Show 2024 in Riyadh. (Asharq Al-Awsat)
A view of an exhibit at the World Defense Show 2024 in Riyadh. (Asharq Al-Awsat)

The Saudi Authority for Industrial Cities and Technology Zones (MODON) has attracted investments worth $34.6 million to localize military aircraft industries, including drones, and provide repair, maintenance, and overhaul services for ships.

The investment is one of the authority’s objectives to promote investment opportunities in industrial cities among major local and international companies.

MODON signed two contracts to allocate two ready-made factories with an area of 700 square meters and investments of $13.3 million in manufacturing military aircraft, parts and pieces of military and civil aircraft, and drones.

It concluded a contract to allocate a logistics land area of 3,000 square meters and investments of $8 million for ship repair and maintenance.

The contract also stipulates repair, maintenance, and overhaul services for spare parts for military vehicles, aircraft, ships, water filtration devices, ship and train engines, and valves.

MODON participated in a pavilion in the second edition of the World Defense Show 2024, held in Riyadh between February 4 and 8.

The event was held under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, to represent the industrial sector and highlight the qualitative opportunities, capabilities, and incentives to enable military industries to align with the National Industrial Strategy.

According to MODON, the benefits of investing in its 36 industrial cities throughout the Kingdom include the availability of a labor force, advanced infrastructure, and logistical solutions that help achieve a competitive and sustainable industrial economy.

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Saudi's flynas Strikes Deal for Additional Airbus A320neos, 15 A330s

Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
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Saudi's flynas Strikes Deal for Additional Airbus A320neos, 15 A330s

Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)

flynas, Saudi Arabia’s leading low-cost carrier, has signed a Memorandum of Understanding (MoU) with Airbus for 75 A320neo family aircraft and 15 A330-900. This strategic agreement will expand the airline's capacity, range and enhance its overall fleet capabilities.
Signed during Farnborough International Airshow in the presence of President of the General Authority of Civil Aviation (GACA) of Saudi Arabia, Abdulaziz bin Abdullah Al-Duailej, Chairman of the Board of NAS Holding Ayed Al Jeaid, flynas Chief Executive Officer & Managing Director Bandar Almohanna, and Airbus Chief Executive Officer, Commercial Aircraft, Christian Scherer, Airbus said on its website.
The new aircraft will join the carrier’s all Airbus fleet serving international, domestic and regional routes. The new A330-900 aircraft will boast a two-class configuration, accommodating up to 400 passengers.
"We are excited to further strengthen our long-standing partnership with Airbus," said Bander Almohanna, CEO and Managing Director of flynas. "The A320neo Family provides exceptional operational performance and environmental benefits, allowing us to offer unique, low-cost travel experiences. Additionally, the A330neowill enhance our long-haul capabilities with its advanced technology and efficiency while supporting our growth plans and Saudi Arabia’s pilgrim program."
Airbus Chief Executive Officer, Commercial Aircraft, Christian Scherer said, "We are delighted to expand our partnership with flynas through this significant milestone for both A320neo and A330-900 aircraft. The A330neo will allow flynas to further grow into widebody markets by building on the A320, benefiting from Airbus’ unique commonality. Both aircraft types offer flynas the perfect versatility and economics to expand into new markets while offering their passengers the latest cabin experience and comfort. We look forward to continuing our successful collaboration with flynas as they embark on this exciting new chapter."
The addition of the A330-900 aircraft will support flynas' ambitious growth plans. The airline anticipates significant operational efficiency gains by combining the new widebody aircraft with its existing A320neo fleet. The A330-900 offers increased capacity and range at unrivaled seat costs, ensuring flynas can compete effectively in the growing regional market, a key focus area for the airline.
The A330neo delivers unbeatable operating economics, powered by the latest-generation Rolls-Royce Trent 7000 engines, featuring new wings and a range of aerodynamic innovations resulting in a 25 percent reduction in fuel consumption and CO₂ emissions compared to previous generation competitor aircraft. The A330neo is capable of flying 8,150 nm / 15,094 km non-stop, providing ultimate comfort with more passenger space, a new lighting system, latest in-flight entertainment systems and full connectivity throughout the cabin.
As with all Airbus aircraft, the A330 family is already able to operate with up to 50% Sustainable Aviation Fuel (SAF). The manufacturer is targeting to have its aircraft up to 100% SAF capable by 2030.