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Flynas

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Flynas News

Flynas reported a net profit of SAR493 million in the first nine months of 2024, up 51 percent from SAR327 million a year ago

Profitable Flynas to launch IPO this month

Low-cost carrier Flynas will launch a share sale on the local stock exchange this month in the latest in a series of initial public offerings (IPOs) by Saudi companies. The subscription will run from May 28 to June 1, 2025, according to the company’s prospectus. The airline, part owned by billionaire Prince Alwaleed Bin Talal, is selling […]

Hospital group SMC'S IPO is the second in the Saudi market after offerings paused following US tariff announcements

Saudi IPOs gather steam after ‘Liberation Day’ hiatus

Saudi hospital and clinic operator Specialized Medical Company (SMC) starts the process of selling shares to the public on Sunday – only the second IPO in the kingdom since Donald Trump rocked global markets a month ago with his April 2 tariff announcement. It would also be the first Saudi hospital group to list its […]

King Abdullah Financial District in Riyadh. The Saudi stock market is down almost 4 percent this year

Paper firm plans first Saudi IPO since global stock rout

Saudi Arabia’s United Carton Industries Company (UCIC), the largest paper packaging company in the Middle East by sales, plans to sell shares to the public to fund expansion. This is the first Saudi announcement of a planned IPO on the Saudi Exchange’s main market since a rout in global markets following Donald Trump’s near tripling […]

A Saudi farmer in a coffee plantation. Saudi chain Barn's launched in 1992 and operates 850 coffee shops in the Middle East, with 600 in the kingdom

Saudi coffee chain Barn’s plans IPO on Tadawul

Barn’s, a homegrown Saudi coffee chain, is planning an initial public offering (IPO) on the Tadawul stock exchange, with an aim to generate funds to finance Middle East expansion. It is working with Saudi regulator Capital Market Authority to meet the IPO criteria and appoint bankers for the potential offering, Bloomberg reported, citing CEO Mohammed […]

The Saudi aviation authority has set a deadline of May 21 for bids from charter airline operators

Saudi Arabia invites bids for charter airline

Saudi Arabia’s aviation regulator is inviting bids to set up a national charter airline. The General Authority of Civil Aviation opened the bid process on April 13 and has set a submission deadline of May 21, it said in a statement. All the bids will be opened on May 22. In February the regulator announced […]

AviLease will provide Turkish Airlines with a total of eight planes

PIF-backed AviLease agrees Turkish Airlines rentals

Saudi Arabia’s Aircraft Leasing Company (AviLease) has signed long-term leases with state-owned Turkish Airlines for Airbus A320neo aircraft.  Two of the aircraft have already been delivered, with the remaining six scheduled for delivery throughout 2025, the airline said in a statement. Riyadh-based AviLease’s CEO Edward O’Byrne, said these aircraft will support Turkish Airlines’ growth plans and […]

Flynas operates 1,500 flights a week with an all-Airbus fleet, connecting more than 70 domestic and international destinations

Low-cost carrier Flynas to offload 30% on Saudi bourse

Saudi low-cost carrier Flynas has received the market regulator’s approval to offload nearly a third of its shares on the local stock exchange in the latest of a series of bourse flotations. The airline, partly owned by billionaire Prince Alwaleed Bin Talal, will sell 51.3 million shares or 30 percent of its stock in an initial public […]

Kingdom Holding Company owner Prince Alwaleed Bin Talal, pictured last year at Riyadh's Kingdom Arena

Kingdom Holding to pay 2024 dividend despite revenue drop

Kingdom Holding Company (KHC), the conglomerate owned by Saudi Arabian Prince Alwaleed Bin Talal, will pay an annual dividend despite a fall in revenues for 2024. The dividend payout will reach SAR1 billion ($267 million), or 2.8 percent of its capital, the investment company said in a statement to the Saudi stock exchange on Monday. […]

Saudia is investing in 118 new Airbus and Boeing jets to replace its ageing fleet. Riyadh Air will serve the capital and become a flag carrier

Saudia ‘still a flag carrier’ ahead of Riyadh Air launch

Saudi Arabia’s flag carrier Saudia is upgrading its fleet with new Boeing and Airbus aircraft even as the government prepares to start a new airline later this year. The 80-year-old carrier has 118 aircraft on order, most of which will replace older models in its existing fleet of 147, and are scheduled to arrive through […]