The head of "Flynas" for "Al Sharq": We are preparing to establish a training and maintenance centers in Saudi Arabia

The Flynas Company prepares them to train two centers, one to train pilots and the other for aircraft interview in Saudi Arabia, and it is aimed at reducing costs by training and maintenance in the country, which is currently in centers outside the kingdom, according to CEO Al -Muhanna. In an interview with ‘Al -Sharq’, he explained that the company increased its seats after receiving five new aircraft from ‘Airbus’, and strengthened the Navy by hiring five other aircraft, to meet the strong demand expected in the second half of the year, and to ensure that a larger share in the Saudi market is expanded, which is expanded from the current share of 14.5%. The company is also preparing to receive 3 new aircraft before the end of this year, according to Al -Muhanna, which added that the agreement contracted to buy at the end of next year is received at the end of next year, and the beginning of 2027. Add new destinations. and seven additional destinations. He revealed that “Flynas” is preparing to feed flights to new countries such as Kenya and Kosovo this year, and also evaluates other destinations in Russia after launching flights to Moscow. Al -Muhanna pointed out that receiving the broad plane the company’s focus on running for more than 6 hours, the current fleet of which can only last six hours. The results of the second quarter recorded “Flynas” quarterly losses of 862.5 million Riyals during the second quarter of the year 2025, which was affected by unexpected expenses linked to public subscription. The company, owned by Prince Alwaleed Bin Talal and the Public Investment Fund, indirectly, with 27.5% of its shares, was included in mid -June with a market value of 13.7 billion Riyals and currently traded at about 12.5 billion rows. The company said in a statement published on the Saudi Stock Exchange website “Tadawul” that the losses were due to unexpected spending of 1.083 billion Riyale, including the equity program for employees for employees with a value of 981.9 million rows and public subscriptions of 101 million Riyals. She pointed out that these expenses were fully funded by the shareholders before the subscription, without any impact on the detained profits, property rights or operating performance. Al -Muhanna, half a strong year, pointed out that the results, given the company’s performance in the first half of this year, are very positive, pointing out that the company achieved a net profit of 339 million Riyals in the first six months of 2025, and a 22% increase in the same period of the previous year. He said that these results were achieved despite the geopolitical conditions that occurred in the first half in the region and led to the disruption of air navigation, which influenced airlines. He noted that the hardness of the operating model in ‘Flynas’ and the diversification of revenue by investing in the HAJJ and Umrah sector, which produced revenue of more than 100 million Riyals, led to a reduction in challenges.