Saudi Arabian Airlines planning own IPO
Saudi Arabian Airlines Corporation is planning an initial public offering of the carrier, the airline’s DG Saleh Al Jasser said Monday. The listing is part of a 5-year strategy to make the airline profitable by 2020. But a decision on when to list the carrier or how much of a stake would be floated is yet to be determined, according to Al Jasser. “The programme we are going through, the restructuring programme, will help... turn that company into profitability and ready for listing,” Al Jasser said. Saudi Arabia decided in 2006 to partially privatise 6 units of the carrier. Saudia’s catering arm was the first with US$347m raised in a 30% stake sale in 2012. Saudia has since listed a 30% stake of its ground handling unit, though plans to list the cargo, maintenance and training units have so far not been followed through. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-04-26/sky/saudi-arabian-airlines-planning-own-ipo
https://portal.staralliance.com/cms/logo.png
Saudi Arabian Airlines planning own IPO
Saudi Arabian Airlines Corporation is planning an initial public offering of the carrier, the airline’s DG Saleh Al Jasser said Monday. The listing is part of a 5-year strategy to make the airline profitable by 2020. But a decision on when to list the carrier or how much of a stake would be floated is yet to be determined, according to Al Jasser. “The programme we are going through, the restructuring programme, will help... turn that company into profitability and ready for listing,” Al Jasser said. Saudi Arabia decided in 2006 to partially privatise 6 units of the carrier. Saudia’s catering arm was the first with US$347m raised in a 30% stake sale in 2012. Saudia has since listed a 30% stake of its ground handling unit, though plans to list the cargo, maintenance and training units have so far not been followed through. <br/>
