DUBAI: Saudi Arabian Airlines could list shares in its cargo business next year as part of the state-owned carrier’s privatization plan, its top executive said on Thursday.
Cargo would be the third unit to pursue an initial public offering (IPO) since the airline, also known as Saudia, decided in 2006 to privatize them.
Saudia plans to list 30 percent of its cargo business next, which “could be in 2018,” Director General Saleh bin Nasser Al-Jasser told reporters in Dubai.
He said after that the airline’s private aviation or medical business could be listed.
Reuters reported in May that Saudia had engaged with advisers for the full sale of its medical unit, which is called Saudia Medical Services, based in Jeddah.
The airline has also said it plans to list its maintenance and flight academy units, and the airline itself.
Saudi Airlines Catering raised $347 million (SR1.3 billion) with an IPO of 30 percent of its shares in 2012. Saudi Ground Services Co. was listed in 2015.
Saudi Arabian Airlines says could list cargo unit’s shares next year
Saudi Arabian Airlines says could list cargo unit’s shares next year
