The Saudi Budget Company Flynas received $ 109 billion in orders following the institutional cycle of its IPO, in a substantial public offer for the low -cost airline market.
The firm based in Riyadh has an established route card which extends to Brussels, Casablanca and Mumbai.
The main objectives of the IPO are to expand the fleet and the network, including the Hajj’s lucrative market and OMRA, and to become entirely digitized while degenerating its freight operations.
In 2024, Flynas recorded mounting income with a product that increases by 19% to $ 2.01 billion (approximately SAR7.6 billion). The airline seemed to be on a good financial trajectory.
The IPO follows $ 96 billion in Qatar Airways orders to Boeing for up to 210 Jets, including 130 Dreamliners in a long time 787, negotiated by President Donald Trump during his recent visit to Doha.
Flynas is the first airline to be registered on the Saudi tadāwul scholarship and the first public offer of the Gulf airline since the IPO of Arabia air in 2007.
“The improved financial capacities of the IPO could allow Saudi Arabia from Riyadh to the track: Flynas IPO removes Flynas to enter new markets more aggressively and improve its service offers, potentially increase its market share and establish new practical centers.
“This could lower prices for consumers, but can put pressure on other low -cost carriers to innovate and find efficiency gains.”
The success of the Flynas ‘IPO could serve as a reference highlighting investors’ confidence in the low -cost airline sector, potentially leading to re -evaluations of the actions of other airlines.
International institutional demand was a key engine of the Flynas IPO, stressing the growing attraction of investment in Saudi Arabia.
“The IPO is aligned with the efforts of Saudi Arabia to diversify its economy beyond oil,” explains Chadwick. “A strong international interest demonstrates confidence in the economic reforms of Saudi Arabia and the growth potential, which means the growing integration of the country in the global financial markets.”
The Flynas investment alignments with the strategic objectives of the vision of the 2030 vision of Saudi Arabia by improving international partnerships.