SAUDI ARABIA: flynas Says Riyadh Closure Hit Half of October Capacity, Confirms 2027 Delivery Plan

RIYADH, Saudi Arabia

• flynas has warned that its fourth-quarter results will be "significantly affected" by the closure of King Khalid International Airport (RUH) in Riyadh. Management made the comments on its third-quarter earnings call, held after the carrier returned to a net profit in 3Q26.
• The airline is not giving any indicators for the fourth quarter, and its 2026 guidance stays suspended while the uncertainty continues.
• Riyadh is flynas’s main base and accounts for almost half of its capacity. Since the closure, the carrier has moved around 15% of its total capacity to other airports, mainly Qassim and Dammam, with a smaller share going to Jeddah and Medina.
• "October was a very difficult month for us," one executive told analysts, adding that around half of the airline’s capacity was affected during the month. Load factor on the flights that did operate held at around 75%.
• Management expects Riyadh to reopen in stages, with activity there set to reach 20% within the next week.
• CEO and Managing Director Bandar Almohanna said management is focused on three priorities: safety, liquidity, and schedule recovery. Insurance cover remains in place.
• Discretionary spending has been put on hold to preserve cash. flynas ended the period with liquidity of SAR 3.4 billion Saudi riyals (USD 907 million).
• The General Authority of Civil Aviation (GACA) and other government bodies are discussing support measures with flynas and the wider sector. Almohanna called the talks "constructive and progressing" but said no details can be shared until they are formally announced.
• "Aviation is central to the Kingdom’s strategy, and flynas is central to the aviation in the Kingdom," he said, adding that the airline’s growth plans have not changed.
• Chief Financial Officer Ramzi Zarroubi said financing is in place for all six A320neos due in 2026. Three had been delivered by the end of the third quarter, and the remaining three are due in the fourth.
• flynas will take no aircraft in the first half of 2027. Nine are due in the second half: six A320neos and its first three A330neos.
• Initial talks on financing the 2027 aircraft have already been held, and banks expect to receive the airline’s request for proposals this month. "We have no concern whatsoever," Zarroubi said.

Source:

• Investing.com