flynas will take a 10% stake in Swissport Saudi Arabia for SAR 50 million and appoint the company as its exclusive ground-handling partner across Saudi Arabia for five years from March 2027. The airline also has an option to lift its holding to 20% when the handling agreement is renewed.
The arrangement covers all commercial airports in the Kingdom and replaces flynas’ current ground-handling contract with Saudi Ground Services, which the airline has already moved to terminate effective 6 March 2027. Annual purchases under the new deal are expected to equal about 5% of flynas’ revenue, making the contract commercially material without being transformative.
Completion remains subject to customary closing conditions and regulatory approvals, including clearance from the General Authority of Civil Aviation and the General Authority for Competition. Swissport said the partnership would expand its footprint in Saudi Arabia, where its share of the ground-handling market could rise to nearly 40%.