Flynas, the Saudi Arabian airline, set to initiate Initial Public Offering (IPO) this month
HI THERE! LET'S TALK ABOUT FLYNAS, THE SAUDI ARABIAN BUDGET AIRLINE RECENTLY LISTED ON STOCK EXCHANGE TADAWUL.
Looks like the billionaire Prince Alwaleed Bin Talal's pet project, flynas, is making headlines again! This badass airline is planning to sell a piece of itself to the public—a whopping 30% stake—in an Initial Public Offering (IPO) later this month.
The IPO includes 51.3 million shares, according to a prospectus released on Monday. Flynas isn't the only one in the kingdom announcing plans to list despite market uncertainty caused by Washington's tariff policies.
Interestingly, news also broke about a hefty deficit of $15.65 billion in Q1 2025, reported by Saudi Arabia's finance ministry. But hey, who's counting, right?
The offering for these shares is set to happen between May 28 and June 1, with proceeds intended for expanding the fleet, network, and operational scope, as well as general corporate purposes.
And guess what? The IPO was a massive success, with all shares snatched up within minutes, raking in approximately $1.1 billion! Shares were priced between 76 to 80 Saudi riyals each, showing unbridled investor enthusiasm for the airline.
So, where will the moolah go? Flynas has big plans, like expanding its fleet—including a major order for 225 Airbus aircraft—investing in Hajj and Umrah pilgrim services, beefing up cargo operations, and targeting short- and medium-haul markets across the MENA region, in line with Saudi Arabia's Vision 2030 to transform the Kingdom into a global aviation and tourism hub.
With a young fleet and a 88% on-time performance rate, flynas is well-positioned to meet surging air travel demand in Saudi Arabia and the GCC region. The airline's financials also looked stellar in 2024, with a 19% revenue increase and a net profit of SAR 434 million ($115.7 million approximately).
Now, ain't that some cool beans? Keep your eyes on the skies for this fly little airline! 🚀💸🚀
- The Initial Public Offering (IPO) of the Saudi Arabian budget airline, flynas, will not only provide funds for expanding the fleet, network, and operational scope, but also for ventures in defi finance, as the airline aims to target short- and medium-haul markets across the MENA region.
- In an exciting turn of events, the success of flynas' IPO, with all shares being snatched up within minutes and raising around $1.1 billion, has open possibilities for the airline to broaden its investment in various sectors, such as defi finance, further positioning itself as a key player in the global aviation scene.
