Saudi Arabia’s sovereign wealth fund is reportedly in discussions to purchase a stake in Flynas, a budget airline that is crucial to the country’s push to develop its tourism industry. The move is part of a wider trend of state funds around the world investing in countries, industries, and companies that align with their strategic goals. Saudi Arabia has been attempting to diversify its economy away from oil by developing industries such as tourism, as part of its Vision 2030 plan. Flynas has become a key component of these efforts, as it has sought to lower airfares and increase tourism to the kingdom. The airline has been growing rapidly in recent years, and has attracted investors from around the world, including private equity firms and sovereign wealth funds. The move to sell a stake in the carrier comes as the global aviation industry continues to struggle due to the Covid-19 pandemic, raising questions about Flynas’ future prospects. Nevertheless, the Saudi Arabian government is likely to continue investing in the airline as part of its broader push to develop the country’s non-oil sectors.