---
title: "Flynas Acquires 10% Stake in Swissport Saudi Arabia for $13.3 Million"
url: https://alitoday.com/flynas-acquires-10-stake-in-swissport-saudi-arabia-for-13-3-million/
date: 2026-09-07
modified: 2026-09-07
lang: en
author: "Alitoday"
description: "RIYADH : Saudi low-cost carrier flynas has signed a sale and purchase agreement to acquire a 10 percent equity stake in Swissport Saudi Arabia Limited for $13.33 million (SAR 50..."
categories:
  - "Business"
  - "World"
tags:
  - "Flynas"
  - "KSA"
  - "MENA"
  - "Saudi Arabia"
  - "Swissport"
image: https://i0.wp.com/alitoday.com/wp-content/uploads/2026/09/converted-17.webp?fit=840%2C495&ssl=1
word_count: 495
---

# Flynas Acquires 10% Stake in Swissport Saudi Arabia for $13.3 Million

**RIYADH **: Saudi low-cost carrier [flynas ](https://www.flynas.com/en)has signed a sale and purchase agreement to acquire a 10 percent equity stake in Swissport Saudi Arabia Limited for $13.33 million (SAR 50 million), alongside a five-year exclusive ground handling contract covering all commercial airports in the Kingdom.

The agreement was signed on September 6, 2026, and includes a call option for flynas to acquire an additional 10 percent stake upon renewal of the ground handling agreement, potentially increasing its holding to 20 percent.

The transaction is being financed from [flynas](https://www.flynas.com/en)' internal resources and remains subject to customary closing conditions, including approvals from Saudi Arabia's General Authority of Civil Aviation and General Authority for Competition.

The sellers are Swissport International AG and Asyad Holding, the existing shareholders of Swissport Saudi Arabia .

As part of the partnership, Swissport Saudi Arabia will become flynas' exclusive ground handling services provider across its domestic network for five years, effective March 6, 2027, through March 5, 2032, with an option to renew for an additional five years by mutual agreement.

Consequently, flynas issued a termination notice to its current provider, Saudi Ground Services Co., effective March 6, 2027.

Annual purchases under the ground handling agreement are expected to represent approximately 5 percent of flynas' revenue, broadly consistent with the airline's existing arrangement with Saudi Ground Services.

Swissport [Saudi Arabia](https://alitoday.com/tag/saudi-arabia/) reported total assets of SAR 203 million as of May 31, 2026, compared to SAR 216 million at the end of 2025 and SAR 118 million at the end of 2024 .

Following the transaction, Swissport's share of Saudi Arabia's ground handling market is expected to reach approximately 40 percent.

'This partnership marks a major milestone for Swissport in Saudi Arabia. It significantly strengthens our scale and competitive position in the Middle East's largest and fastest-growing aviation market and reflects our long-term commitment to the success and continued development of the Kingdom's aviation sector' - Warwick Brady, President and CEO of Swissport International.

'Our direct investment in the ground handling sector is a strategic extension of our operations. It maximizes our readiness to accommodate rapid operational growth, boosts efficiency, and bolsters flynas's ambitions to strengthen its regional and global leadership' - Ayed Al Jeaid, Chairman of flynas, stated.

'With flynas becoming a shareholder in Swissport Saudi Arabia, the relationship extends far beyond the traditional supplier-to-customer relationship, creating a long-term partnership built around shared ambitions and mutual growth' - Hamad Alhemede, CEO of Swissport KSA, added.

Flynas, one of the fastest-growing airlines in the Middle East, increased its capacity by more than 60 percent between 2019 and 2024 and carried 15.8 million passengers in 2025, up 7 percent year-on-year .

In July 2026, the airline confirmed orders for five Airbus A330neo and 20 A321neo aircraft, bringing its confirmed Airbus orders to 235 aircraft out of a total orderbook of 280.

Swissport, which has operated in Saudi Arabia for 10 years, currently employs more than 6,000 aviation professionals across 20 airports in the Kingdom .