Flynas Reports 51% Passenger Growth and 43% Capacity Increase in Q1 2024

Flynas, Saudi Arabia's leading low-cost carrier, reports 51% year-over-year increase in passengers and 43% increase in seat capacity in Q1 2024. The airline's expansion strategy aligns with Saudi Arabia's Vision 2030 goals for aviation and tourism sectors.

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Aqsa Younas Rana
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Flynas Reports 51% Passenger Growth and 43% Capacity Increase in Q1 2024

Flynas Reports 51% Passenger Growth and 43% Capacity Increase in Q1 2024

Flynas, Saudi Arabia's leading low-cost carrier, has announced impressive growth figures for the first quarter of 2024. The airline reported a 51% year-over-year increase in passengers, reaching 3.7 million, and a 43% increase in seat capacity compared to the same period last year. This strong performance was driven by the expansion of both domestic and international routes.

Why this matters: The growth of flynas and other low-cost carriers in Saudi Arabia has significant implications for the country's tourism and aviation sectors, which are key components of its Vision 2030 economic diversification plan. As the airline continues to expand, it is likely to have a positive impact on the local economy and create new job opportunities.

Bander Almohanna, Managing Director and CEO of flynas, commented on the results, saying, "The strong start to the year underscores the effectiveness of our ambitious growth strategy. By tapping into the Kingdom's economic growth and responding to increased passenger demand, we have successfully expanded our customer base." Flynas aims to continue building on its growth plans, aligning with the National Civil Aviation Strategy and the Pilgrims Experience Program. The airline plans to connect the world with the Kingdom and support the development of the tourism and aviation sectors. In December 2023, flynas launched its fourth operations base at Prince Mohammed bin Abdulaziz International Airport in Madinah, making it the only carrier with four bases across Saudi Arabia.

The airline's expansion is part of its strategy to support Vision 2030, which aims to connect the Kingdom with 250 international destinations, reach 330 million passengers, and attract 100 million tourists annually by 2030. Flynas has received international recognition for its growth and service, including the Skytrax International Award as the 4th "Best LCC worldwide" and the "Best Low-cost Airline in the Middle East" in 2023 for the sixth consecutive year.

In 2023, flynas launched 39 new routes to 18 destinations in 10 new countries and inaugurated its fourth operations base in Madinah. The airline currently operates over 1,500 weekly flights to more than 70 domestic and international destinations. Since its launch in 2007, flynas has flown more than 60 million passengers.

The impressive growth figures reported by flynas for Q1 2024 highlight the airline's successful expansion strategy and its key role in supporting Saudi Arabia's Vision 2030 goals for the aviation and tourism sectors. With its growing network and international recognition, flynas is well-positioned to continue connecting the Kingdom to the world and driving the growth of low-cost air travel in the region.

Key Takeaways

  • Flynas reports 51% YoY passenger growth in Q1 2024, reaching 3.7 million passengers.
  • Seat capacity increases by 43% YoY, driven by domestic and international route expansion.
  • Flynas aims to connect the world with Saudi Arabia, supporting Vision 2030's tourism and aviation goals.
  • The airline operates over 1,500 weekly flights to 70+ domestic and international destinations.
  • Flynas received international recognition, including "Best Low-cost Airline in the Middle East" in 2023.