flynas has announced the successful closure of a Murabaha financing agreement with Bank AlJazira worth SAR 495 million (US$132 million) to finance the acquisition of three state-of-the-art Airbus A320neo aircraft. This initiative forms part of the airline's ongoing efforts to support the Saudi financial sector and enhance its competitiveness by developing sophisticated financial products tailored for aviation.
The agreement aligns with flynas' strategy to foster stronger collaboration between the aviation industry and local financial institutions, contributing to the creation of advanced financial products that enhance the Saudi financial market and provide unique investment opportunities for the local banking sector. It also underscores flynas' commitment to prioritising Saudi companies in benefiting from its future expansions, thereby building a robust and integrated aviation ecosystem that supports the objectives of Saudi Vision 2030.
The Airbus A320neo aircraft represent the latest in cutting-edge technology, offering enhanced fuel efficiency, lower emissions, and a more comfortable passenger experience. This acquisition will further strengthen flynas' fleet capabilities, enabling the airline to expand its network and provide best-in-class services to its passengers.
