Saudia Privatization Program Ready
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Saudia Privatization Program Ready
Saudia Privatization Program Ready
Khalil Hanware, Arab News
JEDDAH, 2 December 2004 — The privatization plan of Saudi Arabian Airlines has reached an advanced stage. Dr. Khaled Ben-Bakr, director general of the airline, said a scientific study on the project would be presented to the Cabinet shortly.
“The scientific program for the privatization of Saudi Arabian Airlines, prepared by a number of specialized international companies, has been completed. It will be presented to the Council of Ministers shortly,” Ben-Bakr said.
Prince Sultan, second deputy premier and minister of defense and aviation, and chairman of the airline’s board, signed agreements with a number of international consultancy agencies in October 2000 to prepare the privatization program.
Ben-Bakr said Prince Sultan would open the aviation academy at the Saudia City tomorrow. He described the academy, which is named after Prince Sultan, as one of the largest aviation training centers in the Middle East. Prince Sultan laid the foundation stone for the academy on July 24, 2002.
Saudi Arabian Airlines, one of the world’s 30 top airline companies, now carries more than 15 million passengers annually. Saudia plans to lease 14 aircraft this year to transport pilgrims from around the world.
Prince Sultan has recently honored Saudia by commending the airline for its remarkable achievement in accomplishing a new record in the number of passengers carried this summer. The national carrier posted a 40 percent increase in its revenues last year, the largest in its 60-year history. “This is the first time Saudia is making such a huge revenue in its whole history,” Ben-Bakr said without disclosing the figure.
He said the national carrier made this remarkable achievement while many international airline companies posted losses worth $20 billion over the past years. “We achieved a record profit by implementing a scientific strategy and marketing plan matching with current situations and developments,” he added.
“All indicators show that we will continue to make good profits from operations this year,” the Saudia chief said.
Khalil Hanware, Arab News
JEDDAH, 2 December 2004 — The privatization plan of Saudi Arabian Airlines has reached an advanced stage. Dr. Khaled Ben-Bakr, director general of the airline, said a scientific study on the project would be presented to the Cabinet shortly.
“The scientific program for the privatization of Saudi Arabian Airlines, prepared by a number of specialized international companies, has been completed. It will be presented to the Council of Ministers shortly,” Ben-Bakr said.
Prince Sultan, second deputy premier and minister of defense and aviation, and chairman of the airline’s board, signed agreements with a number of international consultancy agencies in October 2000 to prepare the privatization program.
Ben-Bakr said Prince Sultan would open the aviation academy at the Saudia City tomorrow. He described the academy, which is named after Prince Sultan, as one of the largest aviation training centers in the Middle East. Prince Sultan laid the foundation stone for the academy on July 24, 2002.
Saudi Arabian Airlines, one of the world’s 30 top airline companies, now carries more than 15 million passengers annually. Saudia plans to lease 14 aircraft this year to transport pilgrims from around the world.
Prince Sultan has recently honored Saudia by commending the airline for its remarkable achievement in accomplishing a new record in the number of passengers carried this summer. The national carrier posted a 40 percent increase in its revenues last year, the largest in its 60-year history. “This is the first time Saudia is making such a huge revenue in its whole history,” Ben-Bakr said without disclosing the figure.
He said the national carrier made this remarkable achievement while many international airline companies posted losses worth $20 billion over the past years. “We achieved a record profit by implementing a scientific strategy and marketing plan matching with current situations and developments,” he added.
“All indicators show that we will continue to make good profits from operations this year,” the Saudia chief said.
