Saudi's Flynas to buy 80 Airbus A320neo planes in $8.6B deal

January 16 2017 18:34:33

Saudi's Flynas to buy 80 Airbus A320neo planes in $8.6B deal

DUBAI - The Associated Press

AFP photo

Airbus says it has agreed to sell a total of 80 A320neo planes to Saudi Arabian low-cost airline Flynas in a deal worth $8.6 billion.

The agreement announced Monday includes a new order for 60 of the single-aisle aircraft and upgrades an existing order for 20 of the less-advanced A320ceo model.

The value of the 60 additional planes alone is $6.4 billion at list prices, though airlines typically negotiate discounts for large orders.

Riyadh-based Flynas is a low-cost airline previously known as Nas Air that flies to domestic Saudi and regional destinations.

Saudi billionaire Prince Alwaleed bin Talal's Kingdom Holding Company owns just over a 34 percent stake in the airline. It announced the value of the deal Thursday but did not disclose details of the aircraft involved.

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