Flynas announce IPO to accelerate growth ambitions

The company will offer 51.25 million shares to investors, including 17.42 million new shares amounting to 10.2 per cent of the total offer.

“The IPO is a strategic step that will accelerate the execution of our growth ambitions and solidify our position as the leading low-cost carrier for short- and medium-haul flights across the Middle East and North Africa by 2030", said Bander Al Mohanna, chief executive and managing director of Flynas. 

“We remain focused on strengthening our market share on key domestic routes while strategically expanding into underserved international markets,” he said.

“The Hajj and Umrah segment is a cornerstone of our strategy, and we are well-positioned to serve the growing demand for religious travel to the holy cities of Makkah and Madinah.”