|17 September, 2019

Saudi Kingdom Holding ups stake in flynas

Flynas, formerly Nas Air, is a Saudi Arabia-based domestic and international low-cost airline located in Riyadh

A man checks his mobile phone next to a screen with Saudi Stock Exchange (Tadawul) prices in Riyadh, Saudi Arabia September 16, 2019. REUTERS/Stringer

A man checks his mobile phone next to a screen with Saudi Stock Exchange (Tadawul) prices in Riyadh, Saudi Arabia September 16, 2019. REUTERS/Stringer

Riyadh –  Kingdom Holding Company (KHC) has increased its stake in flynas to 37%, according to KHC’s Twitter account.

The value of the transactions was not revealed.

Flynas, formerly Nas Air, is a Saudi Arabia-based domestic and international low-cost airline located in Riyadh.

Kingdom Holding reported a 19.83% year-on-year profit increase during the first quarter of 2019, recording SAR 171.4 million.

Source: Mubasher

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