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

The evolution of IKA

As Tehran's Imam Khomeini Airport (IKA) continues to grow as the main hub for the Iranian capital, Mohammad Razazzan looks at the development of the project.

Empire Aviation Group wins Aircraft Management Service Provider of the Year

Dubai-based Empire Aviation Group (EAG) was the winner of the 'Aircraft Management Service Provider of the Year 2017' at the 11th annual Aviation Business Awards, held in Dubai on October 11th 2017.

EgyptAir receives the 8th B737-800NG

EgyptAir received its eighth B737-800 on Saturday, as part of a deal for nine Boeing aircraft that the airline has purchased to join its fleet.

Oman Airports Management Company to host ACI trade show

Oman Airports Management Company (OAMC) is hosting ACI Airport Exchange, Airports Council International's biggest annual trade show, at Oman Convention & Exhibition Centre on 5 – 7 December, 2017.

Air Arabia's Egyptian unit disposes of $3.3mn of equity

Air Arabia disposed of 590,000 shares to an unspecified party/parties a filing with the Egyptian Stock Exchange (ESX) on October 11, reports ch-aviation.

Airbus A330neo takes to the skies

Airbus' A330neo has made its maiden departing from Toulouse-Blagnac Airport in southwestern France last week. The no. 1 A330neo was put through its paces during a four hour and 13 minute airborne evaluation.

Aviation Africa SK18418
See us at
Aviation Africa BT18418DASAS BT3006161117Global Aerospace BT28218Aviation Show 267291117DAS BT1105161117AIME BT1204240118DIAC BT1105121117