Saudi Banks Poised to Benefit as Local Aircraft Deals Surpass $100 Billion

Flynas announced on Thursday a Murabaha financing agreement with Bank AlJazira. (Asharq Al-Awsat)
Flynas announced on Thursday a Murabaha financing agreement with Bank AlJazira. (Asharq Al-Awsat)
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Saudi Banks Poised to Benefit as Local Aircraft Deals Surpass $100 Billion

Flynas announced on Thursday a Murabaha financing agreement with Bank AlJazira. (Asharq Al-Awsat)
Flynas announced on Thursday a Murabaha financing agreement with Bank AlJazira. (Asharq Al-Awsat)

Bandar Al-Mohanna, CEO and Managing Director of Flynas, stated that aircraft deals by Saudi national carriers have surpassed $100 billion at list prices.

He highlighted this as a major opportunity for local banks to provide innovative financing solutions backed by strong asset guarantees, citing the partnership between Flynas and AviLease, a Public Investment Fund (PIF) subsidiary specializing in aircraft leasing, as a prime example.

His remarks followed Flynas’ announcement on Thursday of a Murabaha financing agreement with Bank AlJazira worth SAR495 million ($132 million) to fund the acquisition of three new Airbus A320neo aircraft.

Al-Mohanna emphasized that Flynas is not just purchasing planes but is actively building an integrated aviation ecosystem. Strengthening partnerships with Saudi banks is a key part of this strategy, he said, stressing that the company seeks to develop financing programs that support long-term financial sustainability and drive continued growth in the aviation sector.

He also reaffirmed Flynas’ commitment to prioritizing partnerships with national institutions, further strengthening the local aviation industry and aligning with Saudi Arabia’s broader financial and aviation sustainability goals.

The Murabaha financing deal with Bank AlJazira is part of Flynas’ wider efforts to support the Saudi financial sector by enhancing competitiveness and developing advanced financial products tailored to the aviation industry’s evolving needs.



Syria Meeting Focused on Need for Credible Economic Data, IMF Chief Says

International Monetary Fund (IMF) managing director Kristalina Georgieva, speaks during a Press Briefing on "International Monetary and Financial Committee (IMFC)" during the IMF/World Bank Group Spring Meetings at the IMF headquarters in Washington, DC, on April 25, 2025. (AFP)
International Monetary Fund (IMF) managing director Kristalina Georgieva, speaks during a Press Briefing on "International Monetary and Financial Committee (IMFC)" during the IMF/World Bank Group Spring Meetings at the IMF headquarters in Washington, DC, on April 25, 2025. (AFP)
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Syria Meeting Focused on Need for Credible Economic Data, IMF Chief Says

International Monetary Fund (IMF) managing director Kristalina Georgieva, speaks during a Press Briefing on "International Monetary and Financial Committee (IMFC)" during the IMF/World Bank Group Spring Meetings at the IMF headquarters in Washington, DC, on April 25, 2025. (AFP)
International Monetary Fund (IMF) managing director Kristalina Georgieva, speaks during a Press Briefing on "International Monetary and Financial Committee (IMFC)" during the IMF/World Bank Group Spring Meetings at the IMF headquarters in Washington, DC, on April 25, 2025. (AFP)

Officials from the International Monetary Fund, World Bank and key countries met with Syrian authorities this week on efforts to rebuild the war-torn country, emphasizing the need for credible data, IMF Managing Director Kristalina Georgieva said on Friday.

Georgieva said rebuilding Syria's central bank and expanding the country's capacity to generate revenue were other key issues addressed during the meeting that took place during the spring meetings of the IMF and World Bank.

Saudi Arabia's Finance Minister Mohammed Al-Jadaan, who chairs the International Monetary and Financial Committee, said he was grateful to the IMF and World Bank for stepping up support for Syria, noting others including Yemen, Palestine and Lebanon would also need help.