flynas named ‘Best Low-Cost Airline in the Middle East’ for fifth year in a row

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Updated 23 September 2022
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flynas named ‘Best Low-Cost Airline in the Middle East’ for fifth year in a row

RIYADH: Saudi air carrier flynas has been awarded the Skytrax Award for Best Low-Cost Airline in the Middle East for the fifth time in a row.

The gong, handed out in a forum in London on Sept. 23, is based on a multi-month evaluation that includes more than 100 countries in the largest survey of its kind to measure passengers’ satisfaction in the world each year.

Bander Almohanna, CEO of flynas, said the award reflected his company’s commitment to operational excellence and meeting the aspirations of its traveling guests, in addition to achieving its growth and expansion strategy — which included launching more than 16 new destinations in 2022.

“The crowning of flynas for the fifth year in a row as the Best Low-Cost Airline in the Middle East with the Skytrax Award in the most important global forum for the aviation industry confirms our leadership as a national air carrier that raises the name of the Kingdom high on its National Day, and achieves the goals of Saudi Vision 2030 and the Strategy for the Civil Aviation Sector in KSA,” he said.

Flynas travels to more than 70 domestic and international destinations, and currently operates 38 aircraft — with plans to increase that to 52 by the end of 2023.

Almohanna added: “In addition, flynas Board of Directors approved to increase the purchase order for new aircraft to 250 aircraft, in an effort to participate effectively in achieving the Strategy for the Civil Aviation Sector in KSA, which aims to reach 300 million passengers and connect the Kingdom with 250 international destinations by 2030.”

 

 


Two Saudi cybersecurity firms plan Tadawul listings within two years 

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Two Saudi cybersecurity firms plan Tadawul listings within two years 

RIYADH: Two Saudi cybersecurity companies, Cyber and Infratech, plan to list a portion of their shares on the Saudi Stock Exchange, or Tadawul, between 2026 and 2027, according to the companies’ chairmen, who spoke to Al-Eqtisadiah. 

Abdulrahman Al-Kenani, founder and CEO of Cyber, said: “The company is currently planning to acquire certain entities, which will be disclosed in the coming period, in addition to preparing for a public offering through the Tumooh program on the stock market within the next two years at the latest.” 

Al-Kenani explained that the financial, healthcare and services sectors are witnessing continuous cyberattacks as Saudi Arabia expands its digital transformation, accompanied by a rise in the frequency of such incidents. He added that this phenomenon is not limited to the Kingdom but is a global issue. 

The CEO added: “The company is working with several Saudi airports and vital sectors, in addition to collaborating with major international companies to provide cutting-edge cybersecurity solutions.” 

Infratech plans 4 R&D centers abroad 

Ayman Al-Suhaim, CEO of Infratech, stated: “The size of the information technology and cybersecurity market in Saudi Arabia has reached approximately SR87 billion ($23.2 billion), of which SR15.7 billion are allocated to the cybersecurity sector. This includes consulting, managed services, governance, risk management, and cybersecurity within the industrial sector.” 

He said the company has a strategic plan covering the period from 2026 to 2028, which includes establishing a firm in the first quarter of next year to finance cybersecurity and artificial intelligence products, as well as launching four research and development centers in the US, Russia, China and Eastern Europe. 

The plan also includes investment in cloud storage, overseas ventures, and the expansion of operations and investments in data centers. 

Al-Suhaim said the company intends to go public in 2027, noting that it operates across multiple cybersecurity domains serving sectors including energy, defense, aviation and government services. 

The Tumooh program for small and medium-sized enterprises in Saudi Arabia is one of the support initiatives offered by the General Authority for Small and Medium Enterprises, or Monsha’at. It aims to drive SME growth by strengthening capabilities, improving performance and accelerating expansion. 

The initiative seeks to help fast-growing SMEs prepare for initial public offerings in the financial markets. To date, the program has facilitated the listing of 24 companies on the Nomu Parallel Market out of more than 2,500 firms registered under the scheme.