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 1 year ago

Great to know!

* required field

Post a comment

Other Stories
Advertisement
Latest News

Jordan increases pressure over Israeli airport plans

Jordan is mounting pressure onto Israel to reign in its plans for the new Ramon Airport at Timna just north of Eilat.

Dassault Aviation delivers first Rafales to the Arab Republic of Egypt

Egypt has received his first three Dassault Rafale fighter jets.

Emirates fights back with fact-based rebuttal to US carrier claims

Emirates has today released its point-by-point, fact-based response to allegations of subsidy and unfair competition leveled by the “big three” US legacy carriers - Delta, United and American Airlines.

Etihad Flight College orders Embraer Phenom jets plus Skyhawks and DA42s

Etihad Flight College has signed a purchase agreement for four Embraer Phenom 100E aircraft, and options for three additional aircraft of the same model.

PARIS: Turkey launches plans to resurrect regional aircraft family

Turkey is to be the home for the manufacture of a revived and updated regional jet and a turboprop to meet the projected growth for developing markets in Africa, Asia and the Middle EAst. The former Dornier 328 family will be revived by TRJet

PARIS: Saudia to be first with high density A330

Saudia is to become the first airline in the world to operate the new Airbus A330-300 Regional.

Turkish Aviation Academy SSC 2015
See us at
Dubai Airshow 2015Gulf Defense and Aerospace - Kuwait 2015MEBAA Morocco