Saudi low-cost carrier to buy 120 aircraft

16 November 2007

National Air Services (NAS) has announced plans to buy 120 aircraft over the next five years, increasing the size of its fleet to 167 planes by 2012.

The Saudi low-cost carrier, which only launched operations late last year, has revealed a series of ambitious expansion plans during the week of the Dubai Airshow, culminating in this latest announcement.
Company chairman Ayed al-Jeaid says the airline will invest $4bn on new planes between now and 2012, as it seeks to broaden its network within the kingdom and across the region.
NAS president Taher Agueel says the company is assessing proposals from local and international banks to finance the purchases.
NAS had already placed an order for 20 Airbus A320 aircraft at the Dubai Airshow.
It plans to float up to 30 per cent of the company on the stock market.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications