Saudi low-cost airline flynas has signed a memorandum of understanding with the Saudi Investment Recycling Company (SIRC) to explore partnership opportunities in sustainable initiatives that will enhance efforts to create a circular economy.
According to the MoU between flynas and SIRC, both entities will explore partnership opportunities and best solutions for adopting technology and ideal recycling solutions to treat the airline’s waste including oils, plastics, batteries, etc.
Bander Almohanna, CEO and managing director of flynas, said, “We are pleased to enter into this promising partnership with the Saudi Investment Recycling Company as a pioneering company in this field, in line with flynas’ strategy to adopt initiatives with sustainable impact on environment, society, and economy. We trust its ability to transform waste into opportunities, and we are confident that this step will enhance flynas’ efforts to build a sustainable growth model that combines profitable economic returns and low impacts on the environment, in line with the national goals to neutralise greenhouse gas emissions by 2060.”
Ziyad Al-Shiha, CEO of the Saudi Investment Recycling Company, added, “This collaboration represents a significant step forward as we establish a robust partnership with the shared objective of advancing the recycling industry and advocating for the principles of the circular economy. This partnership aligns with the directives of Saudi Vision 2030 and the pivotal aims of the Saudi Green initiative in reducing harmful emissions.”
SIRC is owned by the kingdom’s Public Investment Fund, and was founded in 2017 to achieve the environmental and sustainability goals of Vision 2030 by contributing to the development of waste management, promoting recycling, preserving natural resources, and supporting the country’s transition to a circular economy.
Flynas is in the midst of a significant expansion in the number of aircraft it operates. In June, the airline confirmed an order with Airbus for 30 new A320 neo aircraft in a deal valued at SAR14 billion at the time. That agreement took the carrier’s total order with Airbus up to 120 A320 neo aircraft.
Flynas has increased its fleet size to 51 aircraft with more than 1,500 weekly flights and a fleet mix that includes A320 neo, A320 ceo and widebody Airbus A330 aircraft.
(Image: Supplied by flynas)