7-Jul-2010 1:18 PM

Saudi Arabian Airlines to launch IPO of catering subsidiary by Mar-2011

Saudi Arabian Airlines announced plans to launch an initial public offering of Saudi Arabian Catering on the Saudi Arabian Bourse by Mar-2011 (Emirates Business 24/7, 06-Jul-2010). The privatisation of the carrier’s ground-handling subsidiary was scheduled to follow a privatisation of the catering subsidiary in 2009. The ground handling subsidiary will be merged between National Handling Services and Attar Travel, with Saudi Arabian Airlines to hold 75%, National Handling Services 21% and Attar Travel 4%.