Saudi Arabia-based carrier Flynas said its board had approved the creation of local units in two other countries as part of a plan to become the Middle East’s largest low-cost airline and one of the five largest in the world.
Flynas, headquartered in Riyadh, said it would seek so-called air operator certificates in two unidentified countries as it seeks to double the scale of its operations, according to a statement to Bloomberg.
Saudi Arabia is pumping money into the aviation industry as part of the country’s efforts to make the economy less dependent on oil and become one of the world’s top tourist destinations by 2030. Plans include a new airport in Riyadh and a new airline, both to belong to the kingdom’s powerful sovereign wealth fund.
As part of the push, Flynas plans to expand its existing jet orders to 250 and has previously said it is considering widebody models such as the Boeing Co 787 and Airbus SE A350, slewing beyond its current fleet of narrow-body Airbus SE jets.
Read more: Saudi Arabia’s Flynas to double tourism jet orders (1)
Flynas, which began flying as Nas Air in 2007, is part-owned by Kingdom Holding Co., the investment vehicle of Saudi billionaire Prince Alwaleed Bin Talal.
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