Saudi Airline To Privatize Five Units

Saudi Arabian Airlines will privatize five units next year, some through public listings, to pave the way for the flotation of its core transport business, company and banking sources said on Sunday.
The sources said the government had given the flag carrier's board the green light to turn its catering, handling, cargo, pilot training and technical and maintenance units into independent firms.
"Some of these firms can be listed, mainly catering and cargo, but others will probably need to be managed by the private sector, or outsourced," a source from French bank BNP Paribas said.
The bank is helping plan the privatization of the airline, one of the largest in the Middle East.

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