Saudis plans quick IPO for carrier

06 July 2009

The transport and telecommunications committee of Saudi Arabia's Shura Council has recommended an initial public offering for flag carrier Saudi Arabian Airlines instead of the gradual sell off of its units in a privatisation effort, Reuters has reported. The council has also recommended that Saudia diversify its aircraft fleet to better serve domestic destinations, where the firm competes with private low-cost carriers. The airline had already sold to private investors a 49% stake in its catering unit and 30% of its cargo unit.

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