Serrari Group

Saudi Ground Services Company has announced a contract renewal with flynas, solidifying their partnership in aviation services. The agreement, disclosed via a bourse filing on April 13, 2024, extends Saudi Ground Services’ provision of ground handling services to flynas for domestic and international flights across the Kingdom’s airports.

Valued at approximately $533 million (SAR 2 billion), the five-year contract spans from January 1, 2024, to December 31, 2028, emphasizing a commitment to operational excellence. This renewal follows a previous agreement initiated in 2019, amounting to SAR 1 billion, which commenced on January 1, 2020.

Officials from Saudi Ground Services highlighted the significance of the contract within routine business operations, affirming its equitable nature devoid of preferential treatment.

Concurrently, flynas is set to augment its capacity with the acquisition of two new A320neo aircraft, expected to increase capacity by 25%. This strategic move aligns with flynas’ growth trajectory and underscores the symbiotic relationship between the airline and Saudi Ground Services.

The extension of this partnership coincides with Saudi Ground Services’ commendable financial performance in 2023, reporting a profit of SAR 211.47 million compared to net losses in the previous year. Revenues surged to SAR 2.45 billion in 2023, signaling resilience amidst market dynamics.

This renewal follows an extension of Saudi Ground Services’ contract with Flyadeal Company earlier in 2024, underscoring its pivotal role in the Kingdom’s aviation sector.

photo source: Google

By: Montel Kamau

Serrari Financial Analyst

16th April, 2024

Share this article:
Article and News Disclaimer

The information provided on is for general informational purposes only. While we strive to keep the information up to date and accurate, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk. is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information on the website is provided on an "as-is" basis, with no guarantee of completeness, accuracy, timeliness, or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

In no event will be liable to you or anyone else for any decision made or action taken in reliance on the information provided on the website or for any consequential, special, or similar damages, even if advised of the possibility of such damages.

The articles, news, and information presented on reflect the opinions of the respective authors and contributors and do not necessarily represent the views of the website or its management. Any views or opinions expressed are solely those of the individual authors and do not represent the website's views or opinions as a whole.

The content on may include links to external websites, which are provided for convenience and informational purposes only. We have no control over the nature, content, and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorsement of the views expressed within them.

Every effort is made to keep the website up and running smoothly. However, takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.

Please note that laws, regulations, and information can change rapidly, and we advise you to conduct further research and seek professional advice when necessary.

By using, you agree to this disclaimer and its terms. If you do not agree with this disclaimer, please do not use the website., reserves the right to update, modify, or remove any part of this disclaimer without prior notice. It is your responsibility to review this disclaimer periodically for changes.

Serrari Group 2023