Saudi Arabia plans airport takeovers and privatisations
Saudi Arabia plans to convert its airport operators into holding companies and transfer them to its powerful sovereign wealth fund with a view to eventual privatization for some, the head of Saudi Arabia General Authority of Civil Aviation said on Monday.
Abdulaziz al-Duailej said that Abha International Airport is being put on “the privatisation path” and is going through final technical and economic studies. Investments in the Saudi aviation sector, including in airports, freight, catering, maintenance and ground services, will be offered to local and foreign investors.
The kingdom’s 22 airports will be set up as airport holding companies, which will oversee construction, operation and management. They will then be transferred to the Public Investment Fund (PIF) to “put on the market at a later time”.
Source Credit: Kaumudi Online
