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 2 years ago

Great to know!

* required field

Post a comment

Other Stories
Advertisement
Latest News

Said Darwazeh elected RJ chairman of the board of directors

Royal Jordanian's board of directors elected Said Darwazeh chairman of the board of directors during the board's meeting held on June 21, 2016.

Emirates to add A380 to non-stop Dubai-Auckland route

Emirates is to operate its daily non-stop services between Dubai and Auckland with an A380 aircraft, less than a year after operating the flights with a Boeing 777-200LR.

Etihad Airways' equity partner Air Serbia launches flights to USA

Etihad Airways' equity partner Air Serbia has launched flights to the United States, a milestone achieved with the support of, and in collaboration with, several of Etihad Airways equity partner airlines.

Solar Impulse completes Atlantic crossing

On its journey around the world, Solar Impulse 2 (Si2) - after a flight of three days and three nights (71 hours and 8 minutes) without fuel - has completed its crossing of the Atlantic Ocean to land in Spain and secure several world records

Etihad Airways wins top honours at the Adam Smith Awards

Etihad Airways swept top honours at the Treasury Today Adam Smith Awards in London.

Kuwait Airways launches new transit service at Shannon Airport

Shannon Airport has announced that Kuwait Airways will operate a new transit service on its Kuwait to New York/JFK route starting on Friday June 24.

TAA SK 12MTHS16
See us at
Global Aerospace Summit 2016 show report BT16World_Space_Congress_BT21JN23N16_Arabian_AerospaceAviation Africa 2017 BT 23F17Istanbul Airshow BT 2016