Saudi Arabia’s budget carrier Flynas is in discussions with both France’s Airbus and the US’ Boeing for the purchase of three or four aircraft units, UK news agency Reuters has reported.

The discussion follows nine months of profitability for Flynas, which expects to report its first profits by the end of 2015, following eight years of losses since its founding in 2007.

The airline’s CEO, Paul Byrne, who took over the carrier in 2014, has said nine months of consecutive profits “has given us confidence”. Byrne forecast in May that the airline will turn in profits for the first time this year.

The airline is understood to be exploring which of the two dominant manufacturers would make the best offer.

Flynas was one of two budget airlines that were given a licence to operate domestic and international flights in Saudi Arabia in 2007, in line with the kingdom’s first attempt to deregulate the sector. The Saudi aviation sector has been dominated by state-owned Saudi Arabian Airlines (Saudia).

The other airline that entered the market in 2007, Sama Airlines, folded in 2010 after incurring $300m in losses. 

Two new airlines, Qatar-backed Maha Airways and SaudiGulf, are expected to start operating domestic and short-haul international flights in the Saudi market before the end of the year, if they are able to comply with all the technical requirements of the General Authority of Civil Aviation (Gaca).