Saudi airline flynas inks deal with SIRC to embrace sustainability

Flynas CEO Bander Al-Mohanna and SIRC CEO Ziad Al-Shiha signed the memorandum of understanding. (flynas)
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Updated 14 August 2023
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Saudi airline flynas inks deal with SIRC to embrace sustainability

RIYADH: Saudi Arabia’s commitment to a circular economy has drawn the attention of the aviation sector, with low-cost airline flynas signing an agreement with Saudi Investment Recycling Co. to embrace integrated waste management practices. 

According to a press statement, the memorandum of understanding will help the airline explore partnership opportunities in sustainability to work toward an advanced circular economy. 

It will also look into recycling solutions from the operational waste collected from airlines, including oils, plastics and batteries. 

Flynas CEO Bander Al-Mohanna and SIRC CEO Ziad Al-Shiha signed the MoU. 

“We are pleased to enter into this promising partnership with the Saudi Investment Recycling Co. as a pioneering company in this field,” said Al-Mohanna. 

He added: “We are confident that this step will enhance flynas’ efforts to build a sustainable growth model that combines profitable economic returns and low impacts on the environment, in line with the national goals to neutralize greenhouse gas emissions by 2060.” 

The airline industry generates a significant amount of waste, which includes cabin and inflight items such as newspapers, food packaging and plastic cutlery. 

HIGHLIGHTS

The memorandum of understanding will help the airline explore partnership opportunities in sustainability to work toward an advanced circular economy. 

The airline industry generates a significant amount of waste, which includes cabin and inflight items such as newspapers, food packaging and plastic cutlery. 

According to the International Air Transport Association, airlines generated 5.7 million tons of inflight waste globally in 2016, most of which went to landfills or incinerators. 

SIRC’s Al-Shiha said the partnership with flynas aligns with Saudi Arabia’s Vision 2030 goals and will contribute to the Saudi Green Initiative’s objectives, including reducing harmful emissions. 

“This collaboration represents a significant step forward as we establish a robust partnership with the shared objective of advancing the recycling industry and advocating for the principles of the circular economy,” added Al-Shiha. 

Al-Shiha further pointed out that SIRC is working to lead the circular economy in the Kingdom by activating local and global partnerships and investments, promoting local content, and using best practices in recycling and waste management. 

SIRC was founded in 2017 to achieve the sustainability goals of Vision 2030 by contributing to the development of waste management, promoting recycling, preserving natural resources, and supporting the transition to a circular economy. 


Education spending surges 251% as students return from autumn break: SAMA

Updated 12 December 2025
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Education spending surges 251% as students return from autumn break: SAMA

RIYADH: Education spending in Saudi Arabia surged 251.3 percent in the week ending Dec. 6, reflecting the sharp uptick in purchases as students returned from the autumn break.

According to the latest data from the Saudi Central Bank, expenditure in the sector reached SR218.73 million ($58.2 million), with the number of transactions increasing by 61 percent to 233,000.

Despite this surge, overall point-of-sale spending fell 4.3 percent to SR14.45 billion, while the number of transactions dipped 1.7 percent to 236.18 million week on week.

The week saw mixed changes between the sectors. Spending on freight transport, postal and courier services saw the second-biggest uptick at 33.3 percent to SR60.93 million, followed by medical services, which saw an 8.1 percent increase to SR505.35 million.

Expenditure on apparel and clothing saw a decrease of 16.3 percent, followed by a 2 percent reduction in spending on telecommunication.

Jewelry outlays witnessed an 8.1 percent decline to reach SR325.90 million. Data revealed decreases across many other sectors, led by hotels, which saw the largest dip at 24.5 percent to reach SR335.98 million. 

Spending on car rentals in the Kingdom fell by 12.6 percent, while airlines saw a 3.7 percent increase to SR46.28 million.

Expenditure on food and beverages saw a 1.7 percent increase to SR2.35 billion, claiming the largest share of the POS. Restaurants and cafes retained the second position despite a 12.6 percent dip to SR1.66 billion.

Saudi Arabia’s key urban centers mirrored the national decline. Riyadh, which accounted for the largest share of total POS spending, saw a 3.9 percent dip to SR4.89 billion, down from SR5.08 billion the previous week.

The number of transactions in the capital settled at 74.16 million, down 1.4 percent week on week.

In Jeddah, transaction values decreased by 5.9 percent to SR1.91 billion, while Dammam reported a 0.8 percent surge to SR713.71 million.

POS data, tracked weekly by SAMA, provides an indicator of consumer spending trends and the ongoing growth of digital payments in Saudi Arabia. 

The data also highlights the expanding reach of POS infrastructure, extending beyond major retail hubs to smaller cities and service sectors, supporting broader digital inclusion initiatives. 

The growth of digital payment technologies aligns with the Kingdom’s Vision 2030 objectives, promoting electronic transactions and contributing to the nation’s broader digital economy.