Saudi Arabian low-cost carrier Flynas is reportedly in talks with Airbus SE for a potential order of new jets, as the airline seeks to expand its operations and better compete with regional rivals. Sources familiar with the matter suggest that Flynas could announce an accord with the European planemaker during the upcoming Paris Air Show, although talks are ongoing and no decision has been made yet. Neither the airline nor Airbus have commented on the matter.
Flynas is already an all-Airbus fleet operator, and has previously ordered a mix of A320neo and A321XLR aircraft. The company also has a few Airbus A330 widebody planes mainly used for the Hajj pilgrimage. Last year, Flynas announced plans to expand its existing jet orders to 250 aircraft.
Saudi Arabia is making efforts to diversify its economy and become less reliant on oil. As part of these efforts, the country is investing in the aviation industry and aims to become one of the world's top tourist destinations by 2030. Flynas, which began operations as Nas Air in 2007, is partially owned by Kingdom Holding Co., an investment vehicle of Saudi billionaire Prince Alwaleed Bin Talal.
Flynas has also revealed plans to establish local units in two other countries as part of its strategy to become the largest discount carrier in the Middle East. With this move, Flynas is hoping to increase its market share and better compete with other regional airlines. Talks with Airbus are ongoing and an agreement does not guarantee any specific timeline but the airline is hopeful to make an announcement soon.