Saudi Flyadeal seeks to expand fleet

Jeddah-based Flyadeal will issue a request for proposal (RFP) bids for a 50-aircraft order in November, the Abu Dhabi-based The Natioanal daily reported on Wednesday, citing chief executive Con Korfiatis.

Saudi Arabian Airlines' budget carrier Flyadeal is considering a fleet order of narrow body Airbus A320s or Boeing 737s.

Either plane models has an estimated value of $5 billion at average listed prices before discount, Korfiatis added.

The low-cost airline will have a fleet of five A320s by the end of this year and eight by mid-2018.

Financing options may include bank loans and other various other forms of financing.

When asked about Flyadeal’s plans to go public, Korfiatis said: “That’s a decision that hasn’t been made. It’s not out of the question, it’s a possibility”.

Flyadeal commenced operations in September from Jeddah to Riyadh.

The carrier will consider overseas expansions in the Indian subcontinent market.

“That certainly will figure in our international expansion plans,” Korfiatis said.