Loading
11-Mar-2010 2:41 PM

Saudi Arabian Airlines states privatisation progressing as planned

Saudi Arabian Airlines Director General, Khaled Al-Molhem, stated the privatisation of the carrier is progressing as planned and that its core aviation unit may be privatised within 24 months (Arab News, 09-Mar-2010). The carrier signed an MoU with Al-Ahli Capital and Morgan Stanley to act as financial advisers for the privatisation process on 09-Mar-2010. Mr Al-Molhem added privatisation of the carrier’s catering and cargo units has been successful, with a consortium of Abdul Mohsen Al-Hokair Tourism and Development, Fowzan Holding and Newrest Group purchasing a 49% stake in Saudi Catering and Tarabut Air Freight Services purchasing a 30% stake in Saudia Cargo. Its maintenance unit is expected to be privatised by the start of 2011 at the latest.

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More