Subscribe Free
in Air Transport / Business & Finance / Maintenance

SAEI deal as Saudia presses on with privatisation

Posted 1 August 2013 · 1 Comment

Prince Fahd bin Abdullah, president of Saudi Arabia's General Authority of Civil Aviation (GACA), and chairman of Saudia's board of directors said yesterday that the privatiation of Saudia is in the final stages.

 

Speaking at an official signing ceremony for the sale of 30% of the airline’s engineering arm, SAEI, Prince Fahd said: “We hope Saudia’s privatization process will be completed shortly,”
Saudia has sold 30 percent of its stake in SAEI to Tarabut Aircraft Maintenance Company, an affiliate of Integrated Transport Company (ITC). The agreement between the two organizations was signed by Prince Sultan bin Muhammad bin Saud Al-Kabir, chairman of ITC, and Khaled Al-Molhem, director general of Saudia.
The catering division of the airline has already been fully privatised and has proved very successful. Now the Saudia board believes that the same could happen to the engineering business.
Prince Fahd emphasized the important role of SAEI, which provides aircraft maintenance services not only for the national carrier but also for foreign airlines.
“We hope it will become the  major aircraft maintenance centre in the Middle East,” he said.
Saudia director general, Al-Molhem said: “This is another important step toward privatization of the airline’s strategic units. “This strategic partnership will have great benefits for the Kingdom as well as investors. This is a model of successful partnership between the public and private sectors.”

 

1 Comment for SAEI deal as Saudia presses on with privatisation

edwin s. bartiana

posted 3 years ago

Great to know!

* required field

Post a comment

Other Stories
Advertisement
Latest News

Leonardo reinforces support services in the UAE with new achievements

Leonardo has reinforced its presence in the UAE as a key supplier of support and maintenance services through the AgustaWestand Aviation Services LLC joint venture with Abu Dhabi Aviation.

Emirates SkyCargo appoints Ross Barnett as UK cargo manager

Emirates SkyCargo has appointed Ross Barnett as Cargo Manager in the UK.

Saudia launches twice-weekly service from Manchester to Riyadh

Saudia has announced a twice-weekly service from Manchester Airport to Riyadh.

Royal Wings to operate direct regular flights from Aqaba to Beirut

Royal Wings, a subsidiary of Royal Jordanian Airline, will start operating direct regular flights between Aqaba and Beirut twice weekly from February 24, 2017.

Jazeera Airways commemorates Kuwait's National and Liberation days

Jazeera Airways has embellished an aircraft from its leet and dedicated gates at Kuwait International Airport with the national colours of patriotism to commemorate Kuwait's National and Liberation days.

Gulfstream G280 sets speed record in Dakar

Gulfstream Aerospace has said its Gulfstream G280 aircraft recently set another speed record in Africa, flying from Windhoek, Namibia, in the southern part of the continent to Dakar, Senegal, on the west coast. The flight took 7 hours

TAA
See us at
IDEX BT180123022017Aviation Africa 2017 BT 23F17Kuwait APADS BT1602270317