flynas Raises About $1.1bn in Saudi Arabia's First Airline IPO on Tadawul
The Riyadh low-cost carrier sold a 30% stake at the top of its range in May 2025, marking the first Gulf airline listing since Air Arabia in 2007.
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flynas, Saudi Arabia's largest low-cost carrier, raised roughly SAR 4.1 billion ($1.1 billion) by selling a 30% stake in a May 2025 initial public offering, becoming the first airline to list on the Tadawul exchange. The offering priced at SAR 80 per share, the top of its range, implying a market capitalisation of about SAR 13.7 billion.
Demand was strong, with the offering heavily oversubscribed. Founded in 2007, flynas said it would use proceeds to expand its fleet and network, including capacity for the Hajj and Umrah travel market, and to accelerate digitalisation and cargo operations.