Saudi Arabia's flynas has approved plans to increase its aircraft order to 250, as it seeks to become the biggest low-cost airline in the Middle East.
It is currently in discussion with aircraft manufacturers for drafting agreements, the airline said in a statement on Monday.
“From our position as a Saudi air carrier, we see great opportunities for expansion supported by the strategic location of the kingdom and the prospects opened by Saudi Vision 2030 for the air transport sector,” said Bander Al Mohanna, chief executive and managing director of flynas.
“This is reinforced by the launch of the Civil Aviation Strategy, which aims to increase the annual passenger traffic to 330 million and connect Saudi Arabia with more than 250 destinations worldwide by 2030.”
He added that flynas would “explore aircraft of different capabilities, to fly to new destinations increasing the connection of the world to the kingdom, support tourism and contribute to the transportation of pilgrims and Umrah performers".
Flynas has 34 aircraft in its fleet at present, operating more than 1,500 weekly flights to 35 domestic and international destinations.
In 2017, the airline placed an order for up to 120 Airbus A320 single-aisle jets at a list value of $8.6 billion.
Mr Al Mohanna said in 2019 that potential plans included long-haul operations using wide-body aircraft. At the time, it was evaluating Airbus A330neo or Boeing 787 planes.
The other major low-cost airlines in the region include UAE's Air Arabia, which has a fleet that consists of 52 new Airbus A320 and six A321 aircraft, and flydubai, which has 59 aircraft, including 34 Boeing 737-800 planes, 22 Boeing 737 Max 8 jets and three Max 9s, with another 161 due for delivery.
Flynas, which has recovered from the pandemic, has been expanding operations and is exploring the opening of new bases in several countries.
The airline launched its first direct international flights to AlUla International Airport from the UAE and Kuwait in November, while also adding domestic routes from Riyadh, Dammam and Jeddah.
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Global passenger traffic is on track to rebound to pre-pandemic levels by 2024, the International Air Transport Association (Iata) said earlier this month. However, high oil prices and the Russia-Ukraine conflict pose near-term risks, it said.
Iata's latest update of its long-term forecast shows that in 2021, overall traveller numbers were 47 per cent of 2019 levels. This is expected to improve to 83 per cent in 2022 and 94 per cent in 2023, before exceeding pre-pandemic levels in 2024 and 2025.
Passenger numbers to, from and within the Middle East are expected to reach 81 per cent of 2019 levels in 2022, 98 per cent in 2024 and to exceed pre-Covid levels in 2025.
UAE currency: the story behind the money in your pockets
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How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
'Joker'
Directed by: Todd Phillips
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6.30pm Meydan Classic Trial US$100,000 (Turf) 1,400m
Winner Bella Fever, Dane O’Neill (jockey), Mike de Kock (trainer).
7.05pm Handicap $135,000 (T) 1,400m
Winner Woven, Harry Bentley, David Simcock.
7.40pm UAE 2000 Guineas Group Three $250,000 (Dirt) 1,600m
Winner Fore Left, William Buick, Doug O’Neill.
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Winner Benbatl, Christophe Soumillon, Saeed bin Suroor.
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Winner Art Du Val, William Buick, Charlie Appleby.
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Winner Beyond Reason, William Buick, Charlie Appleby.
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
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DEADPOOL & WOLVERINE
Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin
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The Melbourne Mercer Global Pension Index
The Melbourne Mercer Global Pension Index
Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.
The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.
“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.
“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”
Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.
Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.
“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.
COMPANY PROFILE
Founders: Sebastian Stefan, Sebastian Morar and Claudia Pacurar
Based: Dubai, UAE
Founded: 2014
Number of employees: 36
Sector: Logistics
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Investors: DP World, Prime Venture Partners and family offices in Saudi Arabia and the UAE
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
Killing of Qassem Suleimani
More on Quran memorisation:
Jumanji: The Next Level
Director: Jake Kasdan
Stars: Dwayne Johnson, Kevin Hart, Karen Gillan, Jack Black, Nick Jonas
Two out of five stars
More on animal trafficking
The specs
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COMPANY%20PROFILE
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