flynas

A leading low-cost airline in the Middle East, focused on enhancing passenger comfort with new aircraft seating.

CCI Score

-15.15

0.06% May 31

Latest Event

Flynas Secures SAR 495M Aircraft Financing Deal

Flynas entered into a Murabaha financing agreement with Bank Aljazira worth SAR 495 million to finance the acquisition of three Airbus A320neo aircraft. The deal reinforces Flynas' strategy of collaborating with local financial institutions and aligns with Saudi Vision 2030 by prioritizing national partnerships in its expansion plans.

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ENABLER

flynas is currently rated as an Enabler.

-10 to -19 CCI Score

Companies in this segment facilitate authoritarian practices while claiming neutrality. They provide resources or support that indirectly bolster oppressive regimes, thereby undermining democratic accountability without overtly endorsing the regime.

Latest Events

FEB

27

2025

Flynas Secures SAR 495M Aircraft Financing Deal
19.49

Flynas entered into a Murabaha financing agreement with Bank Aljazira worth SAR 495 million to finance the acquisition of three Airbus A320neo aircraft. The deal reinforces Flynas' strategy of collaborating with local financial institutions and aligns with Saudi Vision 2030 by prioritizing national partnerships in its expansion plans.
+20

Economic Collaboration

April 30

The financing deal with Bank Aljazira is evaluated under Economic Collaboration given its focus on fostering national financial partnerships and supporting local economic integration. This development, while primarily a business transaction, is seen as moderately positive from an anti-fascist and progressive perspective because it emphasizes domestic collaboration and sustainability, aligning with broader strategic national goals without directly bolstering authoritarian practices.

Flynas and Bank AlJazirah ink SAR 495mln aircraft financing deal for 3 new Airbus A320 NEOs
DEC

04

2023

flynas Strategic Partnership at ICAN23
17.23

flynas announced its participation as a strategic partner in the 15th Air Services Negotiation Conference (ICAN23) hosted by the General Authority of Civil Aviation in Riyadh. The conference brings together over 700 civil aviation specialists from more than 100 countries to negotiate agreements and explore industry trends, reinforcing flynas's position as a leading low-cost carrier.
+20

Public and Political Behavior

April 30

flynas's active participation as a strategic partner in a major government-hosted aviation conference demonstrates its commitment to engaging with regulatory bodies and international industry standards. This proactive public and political engagement is viewed positively as it supports structured dialogue and collaboration in the civil aviation sector.

flynas Participates in The Air Services Negotiation conference (ICAN 2023) as a Strategic Partner
APR

28

2023

PIF in Talks to Acquire Stake in Flynas
-32.44

Saudi Arabia’s Public Investment Fund (PIF) is reportedly in discussions to purchase a stake in Flynas, marking a significant move that could increase state influence over the airline as it expands its operations.
-40

Economic Collaboration

April 30

The involvement of Saudi Arabia’s state-controlled Public Investment Fund in acquiring a stake in Flynas is seen as a form of economic collaboration with an authoritarian regime. This move is concerning from an anti-fascist perspective as it could increase state influence over the airline, potentially undermining democratic accountability and contributing to an environment that supports autocratic interests.

Saudi Arabia's wealth fund in talks to buy stake in Flynas
APR

28

2023

Saudi PIF's Potential Acquisition of Stake in Flynas
-64.88

Saudi Arabia’s Public Investment Fund, chaired by Crown Prince Mohammed bin Salman, is in talks to acquire a stake in Flynas as part of the kingdom’s broader push to bolster tourism and expand its economic influence. This development may also delay the airline's planned IPO.
-80

Economic Collaboration

April 30

Flynas is exploring a deal with Saudi Arabia’s Public Investment Fund, an entity tied to an authoritarian regime under Crown Prince Mohammed bin Salman. This economic collaboration raises concerns about the airline deepening its ties with an authoritarian power, which undermines progressive democratic values.

Saudi Arabia's wealth fund eyes Flynas stake to bolster tourism