Farnborough, UK: Saudi Arabia-headquartered flynas, on Thursday, announced it signed an MoU with France’s Airbus for 160 jets, including 75 A320neo family aircraft and 15 A330-900 widebodies.
flynas, an all-Airbus operator, said separately that it also has options for 55 A320neos and 15 A330s, the airline has said. The planes have a catalogue price totalling $13 billion.
Airbus and flynas said in a joint statement that the agreement will expand the airline’s capacity and range and enhance its overall fleet capabilities.
The companies said the new aircraft will join the carrier’s fleet to serve international, domestic and regional routes on the fourth day of the Farnborough International Airshow, UK.
Bander Almohanna, CEO and Managing Director of flynas, said, “This agreement to purchase 160 Airbus aircraft reinforces our determination to establish flynas as a leading global low-cost carrier. By doubling our order volume to 280 Airbus aircraft, we ensure sustainable growth across our network of regional and international routes, spanning short, medium, and long-haul flights."
"Notably, this is our first order for the wide-body A330neo with Airbus, with deliveries starting in 2027. This will enable us to explore new long-haul markets and offer more seat capacity, with diverse and innovative products to our passengers," he said.
Almohanna added, “Additionally, the A330 will enhance our long-haul capabilities with its advanced technology and efficiency while supporting our growth plans and Saudi Arabia’s pilgrim program.”
Last year, during the 2023 Paris Air Show, flynas signed an agreement with Airbus for 30 additional A320neo aircraft as part of fleet expansion from the previous order for 120 aircraft that was signed in 2016.
Abdulaziz bin Abdullah Al-Duailej, President of the General Authority of Civil Aviation (GACA) of Saudi Arabia; Ayed Al Jeaid, Chairman of the Board of NAS Holding; and top Airbus officials were also present at the MoU signing ceremony.
Airbus Chief Executive Officer, Commercial Aircraft Christian Scherer, said, “The A330neo will allow flynas to further grow into widebody markets by building on the A320, benefiting from Airbus’ unique commonality.”
He said, “Both aircraft types offer flynas the perfect versatility and economics to expand into new markets while offering their passengers the latest cabin experience and comfort. We look forward to continuing our successful collaboration with flynas as they embark on this exciting new chapter.”
The new A330-900 aircraft boasts a two-class configuration, accommodating up to 400 passengers.
In April this year, the airline also confirmed plans for an initial public offering (IPO) later this year. It had revenues of SR6.3 billion in 2023, an increase of 32 per cent compared to 2022. This is the first time flynas has revealed the size of its annual revenues amidst confirmed reports that the company is planning an IPO during 2024.
Late last year, the Saudi Arabian low-cost carrier had hired Goldman Sachs Group, Morgan Stanley and Saudi Fransi Capital for its potential IPO on the Saudi Exchange (Tadawul).
The budget carrier operates to over 70 domestic and international routes with more than 1, 500 weekly flights and has served over 78 million passengers since its launch in 2007.
