flynas Named 4th-Best Low-Cost Airline in the World, Best LCC in Middle East

The Skytrax Awards are seen as the top prize of the aviation industry and the most important global standard for excellence among airlines worldwide - SPA.
The Skytrax Awards are seen as the top prize of the aviation industry and the most important global standard for excellence among airlines worldwide - SPA.
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flynas Named 4th-Best Low-Cost Airline in the World, Best LCC in Middle East

The Skytrax Awards are seen as the top prize of the aviation industry and the most important global standard for excellence among airlines worldwide - SPA.
The Skytrax Awards are seen as the top prize of the aviation industry and the most important global standard for excellence among airlines worldwide - SPA.

flynas, the Saudi low-cost air carrier, in 2024 was named the fourth-best low-cost airline in the world for the second year in a row, and it kept its position as the best low-cost carrier (LCC) in the Middle East for the seventh consecutive year, according to the International Skytrax Organization, the global reference for assessing airline performance.

The Skytrax Awards are seen as the top prize of the aviation industry and the most important global standard for excellence among airlines worldwide, according to SPA.
On this occasion, flynas chief executive Bander Almohanna said that receiving this award for the seventh year in a row demonstrates that flynas has competently succeeded in keeping the high quality of its services in parallel with its expansion and growth plan.

He added that the achievement is in line with the National Aviation Strategy to enable national air carriers to contribute to connecting the Kingdom with 250 international destinations, reaching 330 million passengers, and attracting 100 million tourists annually by 2030.



Saudi Giga-project Diriyah Agrees Deals Worth $1 bln with European Firms, Says CEO

Jerry Inzerillo, Group CEO of the Diriyah Gate Authority reacts during the World Economic Forum (WEF) in Riyadh, Saudi Arabia, April 28, 2024. REUTERS/Hamad I Mohammed/File Photo
Jerry Inzerillo, Group CEO of the Diriyah Gate Authority reacts during the World Economic Forum (WEF) in Riyadh, Saudi Arabia, April 28, 2024. REUTERS/Hamad I Mohammed/File Photo
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Saudi Giga-project Diriyah Agrees Deals Worth $1 bln with European Firms, Says CEO

Jerry Inzerillo, Group CEO of the Diriyah Gate Authority reacts during the World Economic Forum (WEF) in Riyadh, Saudi Arabia, April 28, 2024. REUTERS/Hamad I Mohammed/File Photo
Jerry Inzerillo, Group CEO of the Diriyah Gate Authority reacts during the World Economic Forum (WEF) in Riyadh, Saudi Arabia, April 28, 2024. REUTERS/Hamad I Mohammed/File Photo

Diriyah, one of Saudi Arabia's giga-projects, has agreed deals worth nearly $1 billion with European firms and is in talks to attract more foreign capital, its CEO said.

Diriyah, located at a UNESCO World Heritage site outside the capital Riyadh, has been backed by PIF investments worth a total of around 20 billion riyals ($5.33 billion) in 2023 and 2024, and should get 12 billion riyals more next year, its CEO said.

It has recently agreed deals worth nearly $1 billion in total with an Italian developer and a French company and is in talks with several foreign investors looking to buy equity stakes in hotels and other real estate developments, Jerry Inzerillo told Reuters in New York this week.

"There's a lot of interest from America, a lot of interest from every country," he said. "We'll work with any country that can deliver quality and stay on time."

Foreign investors have already bought stakes in several projects in Diriyah, said Inzerillo, with more to come.

"A lot of people can see that it's built, it's doable; it's no longer renderings, no longer 'you wait and see' ... So now we're seeing a big spike in interest in foreign investment".

Inzerillo said investment priorities have changed because of upcoming events such as the Expo 2030 world fair, which Riyadh last year won the right to host. But the pace and scope of the Saudi giga-projects have not been scaled back, he said.

"It's a realignment, a re-prioritization ... not a reduction," he added.