SAUDIA discussions open over passing airline ownership to PIF
Discussions have reportedly opened over the future of SAUDIA and the possible transfer of the airline ownership from the Saudi Arabian government to Public Investment Fund (PIF).
According to Bloomberg, which spoke with people familiar with developments, talks are in the early stages, but the deal could be finalized by the start of 2025.
The PIF, also known as the Saudi wealth fund, already has a number of investments in the aviation industry including Riyadh Air, The Helicopter Company, the Red Sea International Airport (RSI) and King Salman International Airport which is due to open by 2023.
With its focus on developing tourism and investment in transport, the PIF could potentially be viewed as a better vehicle to run and expand SAUDIA.
Bloomberg also reported that SAUDIA could be merged with recently founded Riyadh Air, which expects to launch its first commercial flights in 2025.
The value of SAUDIA is not known and discussions on the transfer of the airline could still be delayed or axed completely.
SAUDIA has a fleet of 144 aircraft comprising of 93 Airbus planes and 51 Boeings.
According to the airline, the fleet includes 16 Airbus A320s, 15 A321s, 32 A330-300s and 30 A320ceos plus 33 Boeing 777s and 18 787 Dreamliners.
The post SAUDIA discussions open over passing airline ownership to PIF appeared first on AeroTime.
Discussions have reportedly opened over the future of SAUDIA and the possible transfer of the airline ownership from…
The post SAUDIA discussions open over passing airline ownership to PIF appeared first on AeroTime.
