Preheat oven to 400°F heat oil and saffron in an 8-inch skillet over medium heat. Add potatoes, onions and garlic, and stir well. Gently press into an even layer with a spatula. Reduce heat to medium-low, cover, and cook for 10 minutes. Stir, season with salt and pepper, and press again. Cover, and cook for 10 minutes. Drain in a colander, reserving oil.
Whisk together eggs, parsley, and thyme. Season with salt and pepper. Stir in potato mixture. Heat 2 tablespoons reserved oil in the skillet over medium heat. pour in egg mixture, and gently press into an even layer. Reduce heat to medum-low. Cook uncovered, for 2 minutes.
Bake and set, about 5 minutes. Invert or serve from pan.