flynas and SIRC Sign an MoU Cooperate in Sustainability field
Riyadh, Kingdom of Saudi Arabia – August 14, 2023: flynas, the national carrier and the leading low-cost airline in the world and the Middle East, and the Saudi Investment Recycling Company (SIRC), owned by the Kingdom’s Public Investment Fund, announced the signing of a memorandum of understanding (MoU) to explore partnership opportunities in sustainability to enhance efforts to create an advanced circular economy, in line with Saudi Vision 2030. Bander Almohanna, CEO and Managing Director of flynas, and Eng Ziad Al-Shiha, CEO of the Saudi Investment Recycling Company, signed the MoU in the presence of senior officials from both companies. According to the memorandum of understanding, the two parties seek to explore partnership opportunities and best options for adopting technology and ideal recycling solutions to treat flynas waste, such as oils, plastics, batteries, etc., in order to achieve best practices in recycling, in line with the Saudi Green Initiative seeking to achieve carbon zero neutrality and to enhance sustainability and preserve the environment. 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 neutralize greenhouse gas emissions by 2060”. Engineer Ziyad Al-Shiha, CEO of the Saudi Investment Recycling Company, said: We are pleased to partner with flynas, one of the fastest growing airlines. 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. He emphasized that SIRC is working to lead the circular economy in the kingdom by activating local and global partnerships and investments, promoting local content, and using best practices in recycling and waste management. flynas is also working to enhance sustainability by launching initiatives with sustainable impact on environment, society, and the economy, in partnership with institutions in the field of recycling, in addition to promoting reliance on more environmentally friendly consumer products, improving space and waste management within the passenger cabin, and increasing crew efficiency. flynas was named the 4th best low-cost airline in the world and the best LCC in the Middle East for the 6th time in a row. The leading LCC connects more than 70 domestic and international destinations through its fleet of 51 aircraft with more than 1,500 weekly flights and has flown more than 60 million passengers since its launch in 2007. SIRC 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 transition to a circular economy.