50 SKY SHADES - World aviation news

Saudi Arabian Airlines planning own IPO

Download: Printable PDF Date: 26 Apr 2016 06:35 categories:
Publisher:
Saudi Arabian Airlines planning own IPO - Finance publisher
Tatjana Obrazcova
Country: Saudi Arabia Aircraft: Airplanes
Source: Gulfnews

Airline chief Saleh Al Jasser says paperwork for a 30% listing of the cargo unit is being finalised.

Saudi Arabian Airlines Corporation, the holding company of Saudi Arabian Airlines, is planning an initial public offering of the state-owned carrier, the airline’s director-general Saleh Al Jasser said on Monday.

The listing is part of a five-year strategy to make the airline, also known as Saudia, profitable by 2020. But a decision on when to list the carrier or how much of a stake would be floated is yet to be determined, according to Al Jasser.

“The programme we are going through, the restructuring programme, will help... turn that company into profitability and ready for listing,” Al Jasser told reporters in Dubai at the Arabian Travel Market.

The listing could take place before profitability is realised, he said.

Saudi Arabia decided in 2006 to partially privatise six units of the national carrier. Saudia’s catering arm was the first with $347 million (Dh1.27 billion) raised in a 30 per cent stake sale in 2012.

 

 



Loading comments for Saudi Arabian Airlines planning own IPO...


Recommended

Fokker Techniek awarded first ever Airbus ACJ319neo VIP completion by K5-Aviation

On the first day of the Asian Business Aviation Conference & Exhibition, Fokker Techniek, a business of GKN Aerospace, has announced that it has signed a contract with long-term customer K5-Aviati...

Piper Announces Jet-A Powered Seminole

Piper Aircraft, Inc. announced today that they have selected the Continental Motors Group new CD-170 compression ignition engine fueled with Jet-A to power the Piper PA-44 Seminole. The world's le...

Seventh Dubai HeliShow to kick off in November 2018

The seventh edition of Dubai HeliShow, the biennial international helicopter technology and operations exhibition dedicated to the helicopter industry, will be held from November 6 to 8, 2018, at the...

Jet MS receives ASA-100 certificate

Jet Maintenance Solutions (Jet MS), a global provider of spare parts and components, is delighted to announce having received ASA-100 certificate issued by Aviation Suppliers Association (ASA). ...