Flynas, the Saudi air carrier and the leading low-cost airline in the Middle East, has announced growth in partnership with 3 aircraft lessors for sales and leaseback of total 14 new Airbus A320neo aircraft worth SR6.6 billion, for deliveries scheduled in 2022 and 2023.
The announcement was made during the Future of Aviation Forum organized by the General Authority of Civil Aviation (GACA) from May 9-11 in Riyadh, with Flynas’ participation in the forum as a strategic partner.
Flynas said that these 14 aircraft financing, secured with partnership from CDB Aviation, CMB Financial Leasing and Avolon Aerospace Leasing Limited, represent part of the company's order for 120 Airbus A320neo aircraft.
Bander Almohanna, Chief Executive Officer and Managing Director of flynas said: "These agreements support flynas' strategy to expand locally and internationally and effectively contribute to achieving the Civil Aviation Authority's strategy that aims to reach 330 million passengers in the Kingdom annually and linking the world to the Kingdom through more than 250 destinations".
Flynas recently announced that the company's Board of Directors had agreed to increase the volume of new orders for aircraft to 250 aircraft, with which Flynas aims to become the first low-cost airline in the Gulf to enable the Kingdom of Saudi Arabia to reach its goal of 100 million annual tourists by 2030.
The Future of Aviation Forum, held in Riyadh, brought together aviation industry leaders from around the world in the public and private sectors, airline CEOs, and international regulators.
The forum aimed to discuss the evolution of air travel and develop solutions for the post-pandemic industry, hosting over 120 speakers and more than 2,000 participants to discuss three principal themes; innovation, growth, and sustainability, during 40 sessions.
In other news, Saudia Aerospace Engineering Industries (SAEI) has announced launching a cooperation project with Stellar Blu to provide, install and support advanced aerial internet solutions in line with the National Aviation Strategy.
The agreement between the two sides that was signed during the Forum.
Under this cooperation, advanced technologies will be provided that the company relies on over many coming years, where Stellar Blu, in cooperation with SAEI, will enhance its role as a distinguished center for aerial internet communication in the region, where this strategic partnership targets to enhance the role of the Saudia Airlines and increase its capabilities to provide current clients of airlines and government institutions with comprehensive technology.
Stellar Blu will provide the Falcon 300 technology that allows airlines to benefit from several satellite aerial communication services and consequently enabling airlines to provide constant communication service with the internet for their clients and realize the best performance levels, allowing guests to enjoy the live broadcast feature and social media applications, and offer them a unique experience called “experiencing home internet in the sky.”