| Element List | Explanation |
|---|---|
| Introduction | Flynas Company announces the signing of a Murabaha Facility Agreement with Saudi Awwal Bank (SAB) of SAR 504 million (equivalent to US$ 134.4M) in relation to financing the delivery of aircraft. |
| Date of obtaining the funding | 2025-08-28 Corresponding to 1447-03-05 |
| Financing entity | Saudi Awwal Bank (SNB) |
| Financing amount. | SAR 504 million |
| Financing duration. | 12 Years |
| Guarantees offered for the financing | 1. Promissory Notes 2. Aircraft Mortgages 3. Assignment of Insurances and Reinsurances 4. Airframe and Engine Warranties |
| Financing objective | The purpose of this facility is to finance the delivery of certain Airbus A320neo aircraft under the Airbus Purchase Agreement, which forms part of the Company’s firm order for 195 narrow-body aircraft (159 A320neo and 36 A321neo), to support the Company’s future expansion. |
| Related Parties | No |
| Additional Information | This strategic deal represents a significant step in supporting Flynas’ fleet expansion plans, enabling the airline to meet growing passenger demand, enhance operational efficiency, and advance the Company’s broader capital restructuring initiatives. It also reflects Flynas’ commitment to aligning with the rapid growth of the aviation sector in the Kingdom, driven by the Saudi Vision 2030 programs, which aim to position the Kingdom as a global hub for travel, tourism, and logistics. |
