Flynas launches new service to London Gatwick airport

Updated 20 May 2014
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Flynas launches new service to London Gatwick airport

Saudi Arabia’s national carrier flynas last week launched its global flight routes program with its inaugural nonstop flight from Jeddah’s King Abdulaziz International Airport to London Gatwick.
XY 21 touched down at exactly 9:25 a.m. (London local time) and was greeted with a traditional water cannon salute on touchdown at Gatwick Airport, where it was met by Guy Stephenson, chief commercial officer at London Gatwick along with other senior executives from the airport. The departure flight XY 22 was due to return to the Kingdom at 10:50 a.m. (London local time).
Flynas CEO Raja Azmi and Saudi media were on board the inaugural flight and welcomed at the gate with a cake cutting ceremony.
“Launching the first of our European long-haul routes is a very exciting day for flynas and we are very pleased to now offer our passengers a nonstop flight to London as part of our international network,” said Azmi.
“The flynas global flight routes program will cover new destinations across Europe, Asia and Africa, all flying out of our international hub in Jeddah in 2014. The international network will also include flights to Manchester, in addition to Paris, Kuala Lumpur, Jakarta, Karachi and Casablanca.”
Guy Stephenson, chief commercial officer at London Gatwick, said: “We are very pleased to welcome the first passengers from Jeddah to London Gatwick as we continue to build on our already successful long-haul network. Flynas is the first low-cost carrier to serve Saudi Arabia from the UK, introducing further innovation into the long-haul, low-cost, business model."
He added: “Gatwick has spent over 1 billion pounds on new facilities in order to become London’s airport of choice for passengers and airlines from around the world. Saudi Arabia is designated as a High Growth Market by UKTI, and we believe that this new, highly competitive service to Jeddah will therefore become an important additional business and leisure link for the UK.”


Ma’aden acquisition supports Vision 2030

Updated 24 April 2019
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Ma’aden acquisition supports Vision 2030

The acquisition of an African fertilizer distribution company by Ma’aden, the largest Saudi mining company, will advance Ma’aden’s Strategy 2025, which includes plans to expand operations in the Kingdom and grow sales globally. The acquisition will also support Saudi Arabia’s Vision 2030, which seeks to diversify the economy, increase non-oil exports, boost the Kingdom’s non-oil GDP, and reinforce the mining sector as the third pillar of Saudi industry, after oil and gas and petrochemicals. 

Ma’aden will make its first international acquisition with the purchase of the Mauritius-based Meridian Group, which is due to be completed by September for an undisclosed fee.

The publicly-listed Saudi mining company will acquire an 85 percent stake in the company in an all-cash deal that will provide one of the Middle East’s largest phosphate producers with 3,000 staff and a network of operations across southern Africa, from Malawi to Mozambique, Zimbabwe and Zambia. Phosphate is used to produce fertilizer that is essential in replacing the phosphorous mineral that is removed from soil when agricultural crops are harvested. 

“This acquisition marks a very important step in Ma’aden’s strategy to build global distribution channels for our fertilizer products,” said Darren Davis, president and chief executive of Ma’aden. “As we continue to build one of the largest producers and exporters of phosphate fertilizers in the world, ensuring an efficient route to key growth markets is critical to our success.” 

Agriculture forms a significant portion of the economies of all African countries. As a sector, it can therefore contribute to major continental priorities, such as eradicating poverty and hunger. The agri industry can also boost intra-Africa trade and investments, rapid industrialization and economic diversification, sustainable resource and environmental management, and create jobs, human security and shared prosperity.

The Southeast African market, like most of the African continent of 1 billion people, is experiencing increased demand for phosphate fertilizers which industry analysts expect to continue growing by 5 percent annually over the next decade, fueled by population growth and increasing education in the use of fertilizers.

“Ma’aden is acquiring unparalleled access to complementary distribution, blending and product-development capabilities in this fast-growth region,” said Hassan Al-Ali, Ma’aden’s senior vice president for phosphate. “This transaction will provide us with logistics advantages in Southeast Africa, and greater knowledge of on-the-ground customer requirements, both of which will be instrumental in better serving our customers.”

The Saudi global mining giant will secure the remaining 15 percent of Meridian’s equity over four years on agreed terms linked to the performance of the African company, which distributes approximately half-a-million tons of fertilizer through its network of granulation and blending plants, warehousing complexes and port facilities. 

HSBC acted as Ma’aden’s financial adviser on the deal and Baker McKenzie was the Saudi company’s legal adviser for this acquisition.