All Saudi airports to be privatised this year

Dhaka,  Fri,  18 August 2017
Published : 09 Aug 2017, 18:07:34
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All Saudi airports to be privatised this year

All Saudi airports will be privatised this year, the head of the General Authority for Civil Aviation (GACA), Abdul Hakim Al-Tamimi, told Aleqtesadiah daily.

GACA’s privatisation strategy aims to transfer all Saudi airports to companies wholly owned by the Saudi Civil Aviation Holding Co., then transfer ownership of the holding company to the Public Investment Fund (PIF).

The aim “is to improve the level of services provided to passengers, and to convert the targeted sectors into a profitable centre to cover costs and to be a source of income for the owner,” Al-Tamimi said, adding that the privatisation will be implemented via three methods.

The first relates to the transfer of an airport to a company, similar to what is happening at King Khaled International Airport in Riyadh, where a minority holding is sold. Then an airport board of directors is formed that has powers in the management of the company.

The second method is operation and maintenance, similar to what happened at the new King Abdul Aziz International Airport in Jeddah.

GACA will bear the capital cost of establishing the project, and will share the income with investors.
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