Flynas appoints banks for potential IPO on Tadawul: Report

A flynas plane

Saudi Arabia’s Flynas hired Goldman Sachs Group Inc., Morgan Stanley and Saudi Fransi Capital for a potential initial public offering (IPO) on the Saudi Exchange (Tadawul), Bloomberg reported.

The low-cost airline could go public as soon as next year, the report added.

According to data available to Argaam, the low-cost airline Flynas was launched in 2007. It operates more than 1,500 flights weekly to more than 70 domestic and international destinations, with a fleet of 63 aircraft.

Since its inception, the airline has served more than 60 million passengers.