flynas signs agreement with CFM International for LEAP-1A engines
In line with the visit of Crown Prince HRH Mohammed bin Salman to Paris, flynas (www.flynas.com), the award winning national carrier and leading low-cost airline in the Middle East which has been established by HRH Khaled Bin Sultan Bin Abdulaziz, signed agreement with CFM International to acquire LEAP-1A engines. The signing took place in France on the 10th of April 2018 with the presence of Ayed Al Jeaid – Chairman of flynas and Bander Al Mohanna – Chief Executive Officer of flynas and Philippe Couteaux, Executive Vice President of Sales and Marketing for Safran/CFM International.
With a list price worth USD 6.3 billion (SAR 23.6 billion), flynas’ agreement with the world’s leading supplier of commercial aircraft engines, includes the acquiring of LEAP-1A engines to power the incoming fleet of 80, A320-neo aircraft ordered by flynas, scheduled to be delivered starting from 2018. The agreement also comprises an associated long-term maintenance and service agreement for the A320 new aircraft fleet with CFM.
Ayed Al Jeaid, Chairman of Flynas Company said “It is highly gratifying to come into partnership with CFM in efforts to continue our strategic development. CFM’s proven success and performance over the years, comes as an essential component of our agreement with Airbus to purchase 80 confirmed order and 40 optional of A320-neo aircraft. Our ambitious vision for growth and expansion will be supported by this partnership and further enable our plans to push boundaries as the leading low cost carrier in the Middle East and the region”.
Bander Al Mohanna, Chief Executive Officer Flynas Company said, “We have operated exceptionally well with our existing Airbus A320 fleet with CFM56-5B engines, which has allowed us to maintain high performance standards and low cost in operations. Equipping our incoming A320neo fleet with LEAP-1A26 engines offers incomparable efficiency and a low cost structure for operating in environments with high temperatures in the region. This partnership not only gives us the confidence in continuing to provide the best on-time services to our guests but also enables us to strengthen our offerings domestically and internationally”.
“It is an honor to extend our partnership with Flynas by providing the LEAP-1A engine,” said Philippe Couteaux, Executive Vice President of Sales and Marketing for Safran/CFM International.
“We look forward to bringing them all the benefits of the advanced LEAP engine to its fleet as part of the airline’s continuous growth in the Middle East.”
Fronting the airline industry as a customer centric airline which offers a unique travel experience with incomparable value additions, digitized solutions and enriched on-board experience, flynas’ rapid growth was strongly depicted in the airline’s record of carrying over 6.4 million passengers in 2017, a 17% CAGR increase since 2010.
Established in 2007, flynas is the national Saudi Carrier and the leading low cost airline in the Middle East with a fleet of 30 Airbus A320 Aircraft, operating over 1,100 flights weekly to 17 domestic destinations and 53 international destinations. Since its launch, flynas has successfully carried more than 38 million passengers from its bases of Riyadh, Jeddah, Dammam and Abha.
flynas’ high value offerings, on-time performance and superior customer service earned flynas the award for Middle East’s Leading Low Cost Airline from World Travel Awards 2015, 2016, 2017, and 2018, as well as the prestigious Skytrax Award for Middle East’s Best Low Cost Airline in 2017.
Continuing to grow and invest in its products and brand, flynas unveiled a new modern identity in 2013, and made significant investments in 2014, enhancing its aircraft fleet, introducing a dedicated Business class, launching new diversified services. flynas further expanded its partnership portfolio with the signing of an agreement with Airbus to purchase 120 new A320NEO aircraft at a list value of US$8.6 billion, which is considered the second largest agreement in the region, in addition to signing a codeshare agreement with Etihad Airways, Pegasus Airlines and Jet Airways.
About CFM International
LEAP-1A engines are a product of CFM International, a 50/50 joint company between GE and Safran Aircraft Engines. CFM is the world’s leading supplier of commercial aircraft engines and the LEAP engine has become the preferred choice for next-generation single-aisle aircraft with more than 15,000 orders received.