Saad A346
Join Date: Sep 1999
Location: ME
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Last press reports that i read stated that all assets of SAAD and SAAD AIR had a lien placed on them prohibiting their disposal....... They do owe quite a bit of money.....
NBN, this would be one to watch carefully before joining them....
Mutt
NBN, this would be one to watch carefully before joining them....
Mutt
Join Date: Jun 2007
Location: Behind You.....
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The ruling was in response to a complaint filed by indebted Saudi family conglomerate Ahmad Hamad Algosaibi and Brothers Company (AHAB), which is locked in a legal tussle in the United States with the billionaire owner of Saad Group, Maan Al-Sanea.
Units of the two family groups, Saad and Ahmad Hamad Algosaibi & Brothers, have borrowed at least $15.7 billion from more than 80 regional and international banks
Join Date: Nov 2001
Location: Where the Money Takes Me
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"......The 346 is in the wide-body completion hangar at Jet Aviation in Basel; all current work on her is suspended......."
I thought they had in fact parked her outside? She looked quite forlorn a few weeks back when I saw her!
I thought they had in fact parked her outside? She looked quite forlorn a few weeks back when I saw her!
Saad AIr
Join Date: Sep 1999
Location: ME
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Saad group has made arrangements to settle $2.59 BILLION worth of loans! That means that they only have another $12 BILLION of outstanding loans to worry about. Somehow i dont think that their airplanes are going to have the interiors installed........
Also noticed that they are being sued in NYC for breaking banking conditions by "concealing numerous facts and circumstances concerning their financial situation, including the simultaneous borrowing of millions if not billions of dollars from numerous other banks
How on earth does a company get that MUCH MONEY from banks?
Mutt
Also noticed that they are being sued in NYC for breaking banking conditions by "concealing numerous facts and circumstances concerning their financial situation, including the simultaneous borrowing of millions if not billions of dollars from numerous other banks
How on earth does a company get that MUCH MONEY from banks?
Mutt
