Saudi Arabia’s flynas secures $225 million Murabaha

Saudi Arabia’s flynas has secured a $225 million (844 million riyal) Murabaha corporate financing facility out of a total funding package of $599.86 million (2.25 billion riyal) to boost further growth. “The financing program will support flynas ambitious future growth plans to become the largest and leading independent low-cost airline in the Middle East and North Africa region,” Bander Almohanna, Chief Executive Officer and Managing Director of flynas said. “These facilities will accelerate achieving the civil aviation strategy, which aims to increase the annual passenger traffic in the Kingdom of Saudi Arabia to 330 million passengers while linking the Kingdom