Saudi Arabia's flynas Purchases 30 New Airbus Aircraft

flynas has firmed up an order with Airbus for 30 new A320neo Family aircraft. (Asharq Al-Awsat)
flynas has firmed up an order with Airbus for 30 new A320neo Family aircraft. (Asharq Al-Awsat)
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Saudi Arabia's flynas Purchases 30 New Airbus Aircraft

flynas has firmed up an order with Airbus for 30 new A320neo Family aircraft. (Asharq Al-Awsat)
flynas has firmed up an order with Airbus for 30 new A320neo Family aircraft. (Asharq Al-Awsat)

The Saudi air carrier and a leading low-cost airline in the Middle East, flynas, has firmed up an order with Airbus for 30 new A320neo Family aircraft, taking the airline's total order with Airbus to 120 A320neo aircraft, including 10 A321XLRs.

Through the $3.7 billion agreement, flynas seeks to boost its position and contribute to the growth of the aviation sector in Saudi Arabia.

It also aims to boost efforts to achieve its ambitious plans by introducing its fleet's most advanced and fuel-efficient single-aisle aircraft.

The agreement was signed at the Paris Airshow by flynas CEO Bandar al-Mhanna, Airbus CCO Christian Schere, in the presence of the Minister of Transport and Logistic Services Saleh al-Jasser, President of the Saudi General Authority of Civil Aviation (GACA) Abdulaziz al-Duailj, and chairman of NAS Holding Ayed al-Jeaid.

"As we continue to grow, receiving several awards for excellence in operations and customer services and invest in our offering, we are delighted to confirm our latest order with Airbus," said Mhanna.

He asserted that the A320neo Family brings unmatched benefits to flynas' passengers, offering exceptional operational performance and environmental benefits while helping provide unique travel experiences at low cost.

Airbus CCO explained that unbeatable economics, more extended range capability, and the most spacious single aisle cabin have made the A320neo Family the preferred choice of airlines worldwide.

"We look forward to working with flynas as it develops its future fleet and presence in the fast-growing Saudi market," said Scherer.

flynas is an all-Airbus operator and was the first airline in Saudi Arabia to acquire the A320neo.

The carrier currently operates a fleet of 32 A320neos, 13 A320ceos, and four A330-300s. The new aircraft will support the airline's growth plans as it expands its international routes and destinations network.

The A320neo Family incorporates the latest technologies, including new generation engines, Sharklets, and aerodynamics, delivering at least 20 percent lower fuel burn and CO2 emission savings.

With more than 8,700 orders from 136 customers, the A320neo Family is the world's most popular aircraft.



Ukraine Receives New IMF Loan 1,000 Days into War

A Ukrainian national flag flutters near buildings destroyed by Russian military strikes in Borodianka, Ukraine, February 15, 2023. (Reuters)
A Ukrainian national flag flutters near buildings destroyed by Russian military strikes in Borodianka, Ukraine, February 15, 2023. (Reuters)
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Ukraine Receives New IMF Loan 1,000 Days into War

A Ukrainian national flag flutters near buildings destroyed by Russian military strikes in Borodianka, Ukraine, February 15, 2023. (Reuters)
A Ukrainian national flag flutters near buildings destroyed by Russian military strikes in Borodianka, Ukraine, February 15, 2023. (Reuters)

The International Monetary Fund (IMF) and Ukrainian authorities have reached an agreement that would give Ukraine access to about $1.1 billion, the IMF said on Tuesday, adding that its executive board must still weigh in on the deal.

If approved, the agreement would bring the total amount disbursed to Ukraine under the program to $9.8 billion, the IMF statement said, adding that the board was expected to review the deal in coming weeks.

“The outlook remains exceptionally uncertain and Russia's war in Ukraine continues to take a heavy toll on Ukraine's people, economy, and infrastructure,” the funds' staff wrote, adding that despite those challenges the program “remains on track.”

“The economy has continued to show resilience despite the devastating challenges arising from Russia’s war in Ukraine, which has now lasted 1,000 days,” it added.

“However, risks remain exceptionally high given uncertainty on the intensity and duration of the war, including from the continued attacks on energy infrastructure.”

IMF staff, which met with Ukrainian officials Nov. 11-18, said the country's real GDP growth was expected to be 4% this year but slow to 2.5%-3.5% in 2025 amid energy infrastructure damage and labor shortages.

Inflation in Ukraine also reached 9.7% year-over-year in October over rising food and labor costs “but inflation expectations remain well anchored,” IMF staff concluded.