Saudi Arabian Airlines says could list cargo unit's shares next year

05/10/2017 19:24 AST

Saudi Arabian Airlines could list shares in its cargo business next year as part of the state-owned carrier's privatisation 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 privatise them.

He said after that the airline's private aviation or medical business could be listed.

Reuters reported in May that Saudia had engaged with advisors 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 Co raised $347 million with an IPO of 30 percent of its shares in 2012. Saudi Ground Services Co was listed in 2015.


Reuters

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