The Clap
According to Bloomberg, the Public Investment Fund is considering buying a stake in low-cost airline Flynas.
What
Goldman Sachs is advising Flynas about a potential sale of a stake in the airline.
So What
Flynas is partly owned by Kingdom Holding (4280), owned by Prince Al Waleed bin Talal.
Last year, the PIF acquired a 17% stake in Flynas as it considers the airline a fundamental pillar in Saudi Arabia’s efforts to boost the tourism sector.
Now What
Flynas has been considering a potential IPO, but these plans may be delayed if the stake is sold to the PIF.
