FINANCIAL NEWS

Saudi airline denies financial misuse reports

07 Jun 2011

(MENAFN) Saudi Arabian Airlines’ assistant director general, Abdullah Al-Ajhar, denied reports that government auditors investigated financial abuses that involved the misuse of around USD1.3 billion, reported Emirates 24/7.

Al-Ajhar added that the amount was mentioned in the carrier’s closing accounts and presented to the parliament, it included aircraft lease, meal for passengers, jet fuel, commissions for travel and sales agents and commercial advertisements.

He also said that rumors of authorities arresting one of the company’s executive on double crossing charges were false, denying that he knew anything about the issue.

It is worth noting that the Saudi Arabic language daily Okaz said government auditors examined the financial accounts of the carrier and found out that the airlines’ officials spending exceeded USD1.3 billion.

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