Saudi Arabian Airlines’ (Saudia) recently launched low cost carrier (LCC) Flyadeal should have a fleet of 25-50 aircraft by 2020, with the start of operations slated for mid-2017. The airline will fly both domestic and regional routes and will build its fleet through new leasing agreements from Saudia, said the latter’s director-general Saleh al-Jasser at a travel exhibition in Dubai. The new airline is estimated to break-even by 2020 while sister company Saudia, which is currently loss-making should also turn profitable that year to be able to list on the exchange, Jasser added. The percentage of the company to be floated is yet to be determined but the IPO could be earlier than 2020. Saudia has been spinning off several units, including Saudi Airlines Catering (6004.SE), and Saudi Ground Services (4031.SE) and is in the process of taking its cargo division public. (Reuters)