Flynas, the Saudi Arabian airline, will initiate its Initial Public Offering (IPO) this month.
Let's Talk Air Travel, Saudi Style!
Saudi Arabia's budget airline, Flynas, backed by Prince Alwaleed Bin Talal, is all set to take flight in a different way – by going public! As per the latest news, a share offering is in the pipeline, set to kick off later this month according to a prospectus released on Monday.
This exciting move marks the first Initial Public Offering (IPO) of a Gulf airline in nearly two decades. Flynas is planning to sell 51.3 million shares (roughly a 30% stake) to investors, joining other firms in the kingdom in announcing their listing intentions. Despite market uncertainties linked to Washington's tariff policies, Flynas seems determined to press ahead with their plans.
The offering is scheduled between May 28 and June 1. The funds raised from this IPO will primarily be used for expanding Flynas's fleet, network, and operational scope, along with various corporate purposes. According to financial reports, the kingdom reported a deficit of $15.65 billion in Q1 2025[1][2].It's clear that Flynas is aiming high with this move, creating waves in the Gulf airline industry.
Sources:
- Arab News
- Reuters
- Bloomberg
- Saudi Gazette
- Al Arabiya
- Flynas, the budget airline of Saudi Arabia, backed by Prince Alwaleed Bin Talal, is planning to go public, marking the first Initial Public Offering (IPO) of a Gulf airline in almost two decades.
- The share offering for Flynas is expected to start later this month, as announced in a prospectus released on Monday.
- Flynas aims to use the funds raised from this IPO to expand its fleet, network, and operational scope, along with various corporate purposes.
- Despite market uncertainties linked to Washington's tariff policies, Flynas seems determined to push through with its plans, joining other firms in the kingdom in announcing their listing intentions.
