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Saudi Arabia Low-Cost Airline Flynas to Raise $1.1 Billion in Saudi Arabia Riyadh Exchange IPO at $3.6 Billion Valuation, Founded in 2007 as Nas Air, Rebranded to Flynas in 2013, Parent is Saudi Arabia National Air Services (NAS) with 37.1% Owned by Kingdom Holding Co
13th May 2025 | Hong Kong
Saudi Arabia low-cost airline Flynas is raising $1.1 billion in Saudi Arabia Riyadh Exchange IPO at $3.6 billion valuation. Flynas was founded in 2007 as Nas Air, and rebranded to Flynas in 2013. Flynas parent is Saudi Arabia National Air Services (NAS), and Flynas is 37.1% owned by Kingdom Holding Co. Profile – Established in Saudi Arabia, flynas is a market-leading low-cost carrier in MENA for the short and medium haul market. It aspires to connect the world to the Kingdom by innovatively providing its travelers with the best on offer in terms of fleet, services, and destinations. flynas operates an all-Airbus fleet of 61 aircraft from its four bases in Riyadh, Jeddah, Dammam and Madinah. The Company connects 72 destinations (16 of which are domestic and 56 international) as of 9M 2024G. Additionally, flynas offers access to 128 destinations through codeshare and interline arrangements with international full-service carriers. flynas has the largest fleet among Saudi LCCs, with 61 aircraft and a firm order book of 225. In 9M 2024G, flynas carried 10.9 million passengers, operating 1,861 weekly flights and had a seat occupancy rate of 85.2%.
“ Saudi Arabia Low-Cost Airline Flynas to Raise $1.1 Billion in Saudi Arabia Riyadh Exchange IPO at $3.6 Billion Valuation, Founded in 2007 as Nas Air, Rebranded to Flynas in 2013, Parent is Saudi Arabia National Air Services (NAS) with 37.1% Owned by Kingdom Holding Co “
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Saudi Arabia Low-Cost Airline Flynas to Raise $1.1 Billion in Saudi Arabia Riyadh Exchange IPO at $3.6 Billion Valuation, Founded in 2007 as Nas Air, Rebranded to Flynas in 2013, Parent is Saudi Arabia National Air Services (NAS) with 37.1% Owned by Kingdom Holding Co
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