PIF in talks to buy stake in flynas: Reports

27/04/2023 Argaam
Logo ofPublic Investment Fund (PIF)

Logo of Public Investment Fund (PIF)

The Public Investment Fund (PIF) is in talks to acquire a stake in flynas, Bloomberg reported, citing unnamed sources familiar with the matter.

 

Goldman Sachs Group is advising flynas shareholders on the potential stake sale to the PIF.

 

flynas had also been planning a potential listing, but this might be delayed if the stake sale to PIF goes ahead.

 

The low-cost carrier is 37.1% owned by Tadawul-listed Kingdom Holding Co., while the PIF holds a 16.9% interest.

 

The Saudi sovereign wealth fund recently launched Riyadh Air, which announced an order last March of up to 72 Boeing 787-9 Dreamliner airplanes, Argaam reported.

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