flynas
Saudi low-cost airline based in Riyadh that began operating as Nas Air in 2007 and listed on Tadawul in June 2025 after an IPO priced at SAR 80 per share.
Industry: Low-cost airline | Location: Riyadh, Saudi Arabia | Founded: 2007
About flynas
flynas is a Saudi Arabian low-cost airline based in Riyadh and listed on the Saudi Exchange under the ticker 4264. It operates scheduled domestic and international passenger flights and, according to its 2025 segment reporting in Argaam, also earns revenue from Hajj and Umrah services and general aviation.
The airline began operations as Nas Air on 25 February 2007 and was renamed flynas in November 2013, according to Wikipedia. Ayed Thawab Al Jeaid is chairman of the board and Bander Al-Mohanna is chief executive and managing director, a post Wikipedia says he has held since February 2015. Ramzi Zaroubi is chief financial officer.
Coverage of the 2025 offering said flynas operated 61 Airbus aircraft with a firm order book of 225. In the first nine months of 2024 it carried 10.9 million passengers on 1,861 weekly flights. Wikipedia lists codeshare agreements with Gulf Air, from July 2025, and Turkish Airlines, signed in July 2026.
flynas priced its initial public offering at SAR 80 per share in May 2025, the top of its range. The offering covered 51.26 million shares, 30 percent of the share capital, made up of 33.83 million existing shares and 17.43 million new ones. It raised about SAR 4.1 billion, valued the company at SAR 13.7 billion, with institutional orders of SAR 409 billion. Kingdom Holding Company and National Flight Services Co. were the named selling shareholders, and about 34 percent of net proceeds went to the company. Shares began trading on 18 June 2025.
For 2025 flynas reported revenue of SAR 7.84 billion, up 3.8 percent, and a net loss of SAR 527 million against a profit of SAR 433.5 million in 2024. The result included SAR 1.08 billion of non-recurring IPO-related costs, and Argaam put adjusted net profit at SAR 556 million.
On 6 September 2026 flynas agreed to buy 10 percent of Swissport Saudi Arabia for SAR 50 million, alongside a five-year ground handling agreement starting 6 March 2027, and gave notice to end its agreement with Saudi Ground Services from that date.
Leadership
- Ayed Thawab Al Jeaid, Chairman of the Board
- Bander Al-Mohanna, Chief Executive Officer and Managing Director
- Talal Ibrahim Al-Maiman, Deputy Chairman of the Board
- Ramzi Zaroubi, Chief Financial Officer