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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

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UAB net profit up by 50% for H1

Total assets increase by 11 percent.

flynas flies over 11m passengers in 2023, up 28 percent from 2022

flynas has increased its fleet size by over 100 percent in less than two years. (SPA)
  • The low-cost carrier has taken delivery of 19 new aircraft during 2023, upscaling fleet size to 64, a rise of over 35 percent.
  • flynas launched 57 new destinations and increased seat capacity by 22 percent for domestic and international flights in 2023.

RIYADH, SAUDI ARABIA – flynas reported record results for its performance in 2023 compared to the previous year 2022, with a historic increase in the number of passengers to over 11.1 million passengers, growing more than 28 percent.

The LCC has taken delivery of 19 new aircraft during 2023, upscaling fleet size to 64, an increase of over 35 percent, which enabled it to move forward with implementing its strategic plan for growth and expansion under the slogan “We Connect the World to the Kingdom.”

Consequently, flynas launched 57 new destinations and routes to 10 countries during the year, inaugurated its fourth operations base at Prince Mohammed bin Abdulaziz International Airport in Madinah, and increased seat capacity by 22 percent for domestic and international flights.

Bander Almohanna, flynas CEO and Managing Director said, “Our continued investments to increase the fleet size and destinations network have contributed to enhancing our leading regional and global position and to advance in the Skytrax classification to be among the top four LCC in the world and the best in the Middle East.”

He said, “The company launched many new initiatives and products that contributed to providing flynas guests with a distinctive travel experience and options, the first of their kind in the Kingdom.”

He added, “The company is moving steadily to achieve its strategic goals in parallel with the objectives of the Pilgrims Experience Program (PEP) to facilitate access to the Two Holy Mosques and the National Civil Aviation Strategy.”

Almohanna said, “This will enable national air carriers to contribute to connecting KSA with 250 international destinations and accommodate 330 million passengers and host 100 million tourists yearly by 2030.”

He said, “Thanks to our relationships and the reliability of our work, we have succeeded in increasing the size of our fleet by over 100 percent in less than two years.”

He added, “We also signed an agreement with Airbus to purchase 30 new A320neo aircraft as part of a 120-aircraft order with a value exceeding 32 billion riyals and a plan to increase the order to 250 aircraft.”

Almohanna said, “flynas is determined to pursue its expansion to new markets, with announcements to be made during the first quarter of 2024.”

He said, “The aviation industry is experiencing unprecedented development thanks to the prosperity of the Kingdom’s economy, with the support of Saudi Vision 2030 programs in various sectors, notably tourism and travel.”