UAE’s Etihad, Flynas gear up for IPO this year: Report

Flynas aircraft

UAE’s Etihad Airways and Flynas are gearing up to list on local stock markets this year, Reuters reported today, Jan. 24, citing sources with knowledge of the matter.

Etihad is looking forward to listing its shares this quarter. The airline targets local and international investors, the sources added.

For More IPOs

Earlier this month, Talal Al-Maiman, CEO of Kingdom Holding Co. (KHC), announced a plan to float subsidiary Flynas shares in the Saudi market. The airline is in final stages to obtain the Saudi market regulator’s approval, Argaam reported.

The planned listing will be carried out through all investors in the company selling 30% of their ownership.

Budget airline Flynas was launched in 2007. The carrier operates a fleet of 61 aircraft that connect more than 70 domestic and international destinations through over 1,500 weekly flights. The carrier transported more than 80 million passengers since launch and targets 165 domestic and international destinations as part of its expansion plans, in line with Vision 2030 goals.