Saudi Arabian Airlines set to privatize in 2014...at least partly
Four major sectors of Saudi Arabian Airlines (Saudia) are marked down for privatisation in 2014, said a top official.
The units included Prince Sultan Aviation Academy, Saudia Private Airline, Medical Services, which include a 400-bed hospital, and Saudi Airlines Real Estate Development Company, Abdullah Al-Ajhar, vice president for public relations, was quoted as saying by Arab News.
Saudia has already privatised five units including catering, cargo, ground services and Saudia Aerospace Engineering Industries, he noted, adding that up to 80 per cent of the units will be privatised this year.
Privatisation has helped Saudi boost its revenues, he said, noting that ground services posted profits of SR600 million ($160 million) while the catering company makes a profit of SR400 to SR600 million.
Saudia also plans to purchase 35 new aircraft to step up services in the domestic sector, Al-Ajhar was quoted as saying in the Arab News report.