Saudi Arabian Airlines will be transformed into a holding company within five years, said Khaled Al-Molhem, its director general.
He also disclosed plans to privatize five new companies affiliated to the organization. Al-Molhem said the airline would continue to provide discounted tickets to students and military officers.
Saudia will privatize the Saudi Aerospace Engineering Industries, Prince Sultan Aviation Academy and the Real Estate Development Company. Al-Molhem noted Saudia flights did not register any accidents since 1996.
He welcomed new operators in the Kingdom's domestic sector, saying it would improve competition and benefit travelers. "Domestic flights account for 67 percent of Saudia 's total flights," he said.
Read more: http://www.zawya.com/story/Saudia_to_be_transformed_into_a_holding_company_in_five_years-ZAWYA20130226030848/
He also disclosed plans to privatize five new companies affiliated to the organization. Al-Molhem said the airline would continue to provide discounted tickets to students and military officers.
Saudia will privatize the Saudi Aerospace Engineering Industries, Prince Sultan Aviation Academy and the Real Estate Development Company. Al-Molhem noted Saudia flights did not register any accidents since 1996.
He welcomed new operators in the Kingdom's domestic sector, saying it would improve competition and benefit travelers. "Domestic flights account for 67 percent of Saudia 's total flights," he said.
Read more: http://www.zawya.com/story/Saudia_to_be_transformed_into_a_holding_company_in_five_years-ZAWYA20130226030848/
haha I love this!
ReplyDeleteMargins are so anemic in the airline industry that they`re turning the company into a holding company... cant really argue too much with the decision, I bet shareholders will benefit a lot from it, as long as they get the right type of people in there.
Haha yes i guess thats their best move? As long as their "tourism" industry is growing with no effort on Saudia's behalf then why not....This is like telling an egg not to hatch but turn into a rock cause its safer that way..Oh well atleast they are making some decisions
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