عربي English Türkçe اردو فارسى
Logo
Latest News
Business

flynas Takes Delivery of 50th Jetliner Out of Order for 120 Airbus A320neo

flynas is moving ahead in its ambitious plan for growth, expansion, and increasing the fleet size - AFP
flynas is moving ahead in its ambitious plan for growth, expansion, and increasing the fleet size - AFP
TT
TT

flynas Takes Delivery of 50th Jetliner Out of Order for 120 Airbus A320neo

flynas is moving ahead in its ambitious plan for growth, expansion, and increasing the fleet size - AFP
flynas is moving ahead in its ambitious plan for growth, expansion, and increasing the fleet size - AFP

flynas, the Saudi air carrier and the leading low-cost airline in the Middle East and the world, celebrated taking delivery of the 50th airplane out of a large order for Airbus A320neo jetliners at a reception held at King Khalid International Airport in Riyadh.

The company is moving ahead in its ambitious plan for growth, expansion, and increasing the fleet size.
Taking delivery of the 50th aircraft comes within an order to purchase 120 A320neo aircraft from Airbus with a value exceeding 32 billion riyals, which was at the time the second-largest purchase of A320neo aircraft in the Middle East, as a strategic step for flynas, SPA reported.
The deal with Airbus was a strategic step for flynas, consolidating its position as a leading low-cost airline in the Middle East, and one of the top four low-cost carriers in the world. The company is moving forward in its ambitious plans to double the fleet size after its board of directors approved an increase in purchase orders to 250 aircraft. This is in line with flynas’ strategic plan -- “We Connect the World to the Kingdom” -- in parallel with the National Civil Aviation Strategy to enable national air carriers to contribute to connecting Saudi Arabia with 250 international destinations and to accommodate 330 million passengers and to host 100 million tourists yearly by 2030.
In parallel with upscaling the flynas fleet, taking delivery of the new aircraft contributed to generating hundreds of quality jobs in the aviation sector, directly and indirectly. flynas recently announced the opening of applications in several programs, including the Future Pilots Program, Future Engineers Program, and the Cabin Crew Program for Saudi men and women.
This A320neo airplane is the third of its kind received by flynas since the beginning of 2024, and it is due to receive other batches of aircraft during the year, reinforcing flynas' commitment to sustainability and environmental protection. The A320neo is the most advanced, environmentally friendly, and fuel-efficient single-aisle aircraft worldwide.
flynas connects more than 70 domestic and international destinations with more than 1,500 weekly flights and has flown more than 78 million passengers since its launch in 2007, with the aim to reach 165 domestic and international destinations.

Most Viewed

 
 
Business

Foreign Investments in Saudi Arabia Triple, with Over 1,200 Benefiting from Premium Residency

The 28th Global Investment Conference kicked off in Riyadh on Monday. (SPA)
The 28th Global Investment Conference kicked off in Riyadh on Monday. (SPA)
TT
TT

Foreign Investments in Saudi Arabia Triple, with Over 1,200 Benefiting from Premium Residency

The 28th Global Investment Conference kicked off in Riyadh on Monday. (SPA)
The 28th Global Investment Conference kicked off in Riyadh on Monday. (SPA)

Saudi Arabia has tripled its foreign investment inflows and increased the number of investors tenfold since the launch of Vision 2030. More than 1,200 international investors have also obtained premium residency in the Kingdom.

These figures were revealed by Minister of Investment Khalid Al-Falih during the 28th Global Investment Conference, held in Riyadh on Monday under the patronage of Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister.

Al-Falih emphasized that premium residency is a key enabler for attracting foreign investment, as it simplifies procedures for investors and enhances their ability to seize the opportunities available in Saudi Arabia, solidifying the Kingdom’s position as a global investment hub. Residency holders, he noted, are treated as if they were in their home countries.

Since the introduction of Vision 2030, investment inflows have tripled, and the GDP has grown by 70%, reaching $1.1 trillion—half of which comes from non-oil sectors, he continued.

Al-Falih also stressed the immense opportunities in areas such as digital infrastructure and research-driven economic growth. He identified sustainability and circular carbon economy projects as key focus areas for future investment.

He acknowledged the geopolitical risks and labor shortages that pose challenges to investment. However, he projected that the Global South is poised to attract half of global financial flows by 2025.

The minister went on to say that hosting the Global Investment Conference in Riyadh provides Saudi Arabia with a platform to present its strategic vision to international partners and highlight its status as a trusted partner in sustainable economic growth.

Nivruti Rai, Managing Director and CEO of Invest India and President of the World Association of Investment Promotion Agencies (WAIPA), underscored the importance of international collaboration in achieving sustainable growth and digital transformation. She lauded Vision 2030 as a model for economic and social progress, underlining the role of technology, education, and tourism in driving development.

The world has consumed nearly 2.5 trillion metric tons of greenhouse gas emissions, leaving only 500–700 billion metric tons for sustainable use, she noted, while underscoring the need for countries like Saudi Arabia and India to lead innovation in renewable energy sources such as solar, wind and green hydrogen.

Saudi Arabia’s commitment to innovation in energy and water was also commended, with Rai describing mega projects like NEOM as a “dream come true” and a leading example of integrating technology and sustainability to improve quality of life.

During a panel discussion, Saudi Minister of Economy and Planning Faisal Al-Ibrahim revealed that investment and fixed capital now constitute 25% of the GDP. He noted that Vision 2030 has unlocked vast opportunities in previously untapped sectors, including mining, tourism, culture, and entertainment, significantly contributing to the Kingdom’s non-oil growth.

Al-Ibrahim stressed the importance of adopting advanced technologies in renewable energy, green hydrogen, defense, education, and healthcare.

He stressed Saudi Arabia’s role as a central platform for accessing new markets and boosting global economic stability through continuous innovation.

Egyptian Minister of Investment and Foreign Trade Hassan Al-Khatib highlighted the importance of Saudi-Egyptian cooperation and sound policy adoption to attract investments in promising sectors.

Saudi investments in Egypt would significantly contribute to fostering a favorable investment climate, he said.

Greek Deputy Minister of Foreign Affairs Kostas Fragogiannis discussed Greece’s focus on attracting investments in gas, including talks with Saudi Arabia and other nations, to access European markets.

The Invest in Saudi Arabia platform organized the three-day Global Investment Conference from November 25 to 27 in collaboration with WAIPA. This major event brings together global leaders, investors, and stakeholders to explore opportunities in sustainable growth and digital transformation, aiming to diversify and enhance global investment strategies.