The General Authority for Civil Aviation (GACA) plans to establish a holding company for civil aviation. The move aims to ease efforts to privatize airports in the Kingdom and to encourage them to become more globally competitive.
"The establishment of a holding company and the subsequent appointment of independent companies for each international airport will effectively separate the services provided by the executive arm of the company from the control and policy-making sections. It will also strengthen the strategic goals of reviving the civil aviation sector in the Kingdom," Prince Fahd said in an interview with the Asharq Al-Awsat daily.
The prince said the GACA is moving toward privatization like many other establishments in the Kingdom.
The strategic plan for the revival of the Kingdom's civil aviation sector focuses mainly on three areas. These areas include, improving the level of passenger services, encouraging the private sector to invest through strategic companies, and maintaining a high level of safety and security, he said.
The strategic plan also aims to raise the annual SR 30 billion in revenue to higher levels, to support the national economy.
Read more: http://www.zawya.com/story/Saudi_GACA_plans_to_establish_a_holding_company_for_airports_privatization-ZAWYA20130204031136/
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