flynas, the Saudi air carrier and leading low-cost airline in the Middle East, reported remarkable growth in its operational performance during the first quarter of 2023 compared to the same period of 2022.
Q1 2023 in summary
Overall, in the first quarter of 2023 flynas posted a revenue growth of 47% over the same period last year. For the quarter, the number of passengers carried increased 26% to more than 2.4 million from 1.9 million passengers in Q1 2022.
The number of flights was up to 17 thousand flights from 15 thousand flights, an increase of more than 13% compared to the first quarter of the previous year, 2022.
Bander Almohanna, CEO and Managing Director of flynas, said: “The growth rates and increases in all flynas operations during the first quarter of 2023 are a result of the strategic expansion plan that we launched in early 2022 under the slogan” We Link the World to the Kingdom.”
“This allowed us to increase our fleet size to 48 aircraft by May 2023, in conjunction with launching new international and domestic destinations”.
“We announced adding 10 new destinations and routes in Asia and Europe during the 2023 summer season, as of next June, bringing the total summer destinations to 20, as we keep expanding our ever-growing international network.”
“Notably after the company’s board of directors approved increasing our orders for new aircraft to 250 aircraft and our plan to obtain an Air Operator Certificate (AOC) in two more countries, with the aim of doubling operations and expansion internationally,” Almohanna added.
Saudi Vision 2030
Saudi Vision 2030 is the strategic initiative to reduce Saudi Arabia’s dependence on oil and diversify its economy into several key sectors which notably include the tourism industry.
The initiative was first publicly announced in 2016 by the Crown Prince Mohammed bin Salman. In 2021, The Guardian reported that, despite Saudi Arabia’s commitment to diversify its economy, the government was still 74% dependent on oil exports for its budget.
Bander Almohanna stressed the flynas keenness to contribute to achieving the goals of the national strategy for the civil aviation sector in the Saudi Vision 2030, to reach 330 million passengers annually, and to connect the Kingdom with 250 destinations worldwide by 2030.
“We will keep cementing our position as the largest low-cost airline in the Middle East, and one of the top 10 low-cost airlines in the world.”
“We aim to advance in the global rankings to be among the top 5 companies in our category worldwide and to be the largest owner of modern aircraft in the region,” Almohanna concluded.
flynas is a Saudi low-cost airline, and holds the credential of being the country’s first budget airline. The company’s head office is located in Riyadh.
flynas was established in 2007 and began operations in 2008. It is headquartered at King Khalid International Airport in Riyadh, and has a second hub at King Abdulaziz International Airport in Jeddah.
The airline flies to over 50 destinations in the Middle East, North Africa, Europe, and Asia.
The airline’s fleet consists of 39 aircraft, including Airbus A320s, A321s, and Boeing 737s. Flynas has ordered a further 100 aircraft, including 737 MAX 8s and Airbus A321neos.
flynas is a major player in the Saudi Arabian aviation market. It is the second largest airline in the country, after Saudia.
The airline has played a significant role in the growth of air travel in Saudi Arabia. It has also helped to make air travel more affordable for Saudi citizens.