For 5th Time, Flynas Wins Skytrax Award as Middle East's Best Low-Cost Airline

A flynas Airbus A320 aircraft on the tarmac at Cairo International Airport. (AFP)
A flynas Airbus A320 aircraft on the tarmac at Cairo International Airport. (AFP)
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For 5th Time, Flynas Wins Skytrax Award as Middle East's Best Low-Cost Airline

A flynas Airbus A320 aircraft on the tarmac at Cairo International Airport. (AFP)
A flynas Airbus A320 aircraft on the tarmac at Cairo International Airport. (AFP)

Flynas, the Saudi air carrier and the leading low-cost airline in the Middle East, won the Skytrax Award as the Best Low-Cost Airline in the Middle East for the fifth consecutive year at a forum held in London on Friday, reported the Saudi Press Agency.

The Skytrax Award, launched in 1999, is the highest award in the aviation industry and the most important global standard for excellence among airlines worldwide.

Bander Almohanna, CEO of Flynas, said: “The crowning of Flynas for the fifth year in a row as the Best Low-Cost Airline in the Middle East with the Skytrax Award in the most important global forum for the aviation industry confirms our leadership as a national air carrier that raises the name of the Kingdom high on its National Day, and achieves the goals of Saudi Vision 2030 and the Strategy for the Civil Aviation Sector in Saudi Arabia.”

He stressed that this win reflects Flynas’ commitment to operational excellence and meeting the aspirations of its traveling guests. It is also in line with achieving its growth and expansion strategy under the title “We Connect the World to the Kingdom,” which included launching more than 16 new destinations in 2022, bringing the number of Flynas destinations to more than 70 domestic and international destinations.

“Flynas fleet continues to grow, as it reached 38 aircraft in the first half of 2022 and will increase to 52 aircraft by the end of 2023,” said Almohanna.

“In addition, the Flynas Board of Directors approved to increase the purchase order for new aircraft to 250 aircraft, in an effort to participate effectively in achieving the Strategy for the Civil Aviation Sector in Saudi Arabia, which aims to reach 300 million passengers and connect the Kingdom with 250 international destinations by 2030,” he added.

The Skytrax Awards are awarded after a multi-month evaluation that includes more than 100 countries; by conducting the largest survey of its kind to measure passengers’ satisfaction in the world annually.

By winning the award for this year, Flynas now has five awards from Skytrax as the Best Low-Cost Airline in the Middle East in the years 2017, 2018, 2019, 2021, and 2022.

Flynas has achieved the highest rating in the Official Airline Rating conducted by the non-profit organization APEX, which is one of the most significant associations of airlines worldwide.

In the assessment that included 600 companies globally, Flynas was ranked in the 4-star low-cost carrier category, the highest category of low-cost airlines.

Moreover, Flynas has been ranked as the Leading Low-Cost Airline in the Middle East by the World Travel Awards for seven consecutive years.



Oil Prices Climb, but Recession Fears and Tariffs Limit Gains

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
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Oil Prices Climb, but Recession Fears and Tariffs Limit Gains

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)

Oil prices rose 1% on Tuesday, helped by weakness in the US dollar, although gains were capped as concerns mounted over a US slowdown and the impact of trade tariffs on global economic growth.

Brent futures rose 73 cents, or 1.05%, to stand at$70.01 a barrel at 1116 GMT after falling in early trade. US West Texas Intermediate crude futures climbed 66 cents, or 1%, to $66.69 a barrel after previous declines as well.

Both benchmarks closed 1.5% lower in the previous session.

The dollar index hit a four-month low, making oil less expensive for overseas buyers.

Investors are closely monitoring OPEC+ plans after the producer group announced plans to increase output in April, Reuters reported.

A scaling back of US tariffs would ease fears of inflation and economic contraction, said PVM analyst Tamas Varga, but the recent oil price plunge meant it was "hard to see OPEC+ going ahead with its plan and releasing oil back to the market from April."

On Friday, Russia's Deputy Prime Minister Alexander Novak told reporters that the OPEC+ producer group would go ahead with its April increase but may then consider other steps, including reducing production.

Brent is finding strong technical support at around $70 a barrel and may look to stage a bounce, said Suvro Sarkar, energy sector team lead at DBS Bank, adding that the OPEC+ supply response would be flexible, depending on market conditions.

"If oil prices fall below the $70 per barrel mark for an extended period, output hikes may be paused in our opinion. OPEC+ will also keep a careful eye on Trump's Iran and Venezuela policies," he said.

US President Donald Trump's protectionist policies have shaken global markets, imposing and delaying tariffs on major oil suppliers Canada and Mexico, while also raising duties on China, prompting retaliatory measures.

Over the weekend, Trump said a "period of transition" was likely and declined to rule out a US recession.

Stocks, which crude prices often follow, slumped on Monday, with all three major US indexes suffering sharp declines. The S&P 500 had its biggest one-day drop since December 18 and the Nasdaq slid 4.0%, its biggest single-day percentage drop since September 2022.

Investors await US inflation data due on Wednesday for clues on the path of interest rates.

In the US, crude oil stockpiles were expected to have risen last week, while distillate and gasoline inventories likely fell, a preliminary Reuters poll showed on Monday.

The poll was conducted ahead of reports from the American Petroleum Institute at 4:30 p.m. EDT Tuesday and the Energy Information Administration at 10:30 a.m. EDT Wednesday.