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FINANCIAL NEWS
Saudi Arabia mulls privatizing the operation of airports
14 Jan 2015
(MENAFN) Saudi Arabia’s General Authority of Civil Aviation (GACA) said that the country is considering privatizing the operation of some of its largest airports, though it would retain the ownership of these airports Arabian Business reported.
“The management and operation of some major airports with intensive local and international air traffic may soon be offered to the private sector,” General Authority of Civil Aviation (GACA) spokesman was quoted as saying.
The possibility comes after the country already privatized the operations in The Haj Terminal at King Abdulaziz International Airport in Riyadh and Prince Muhammad Bin Abdulaziz Airport in Madinah, while Taif Airport is due to be handed over to a private firm by the end of the year.
Saudi Arabia, which has committed to a USD10.65 billion program to upgrade or build more than 20 airports to help accommodate its fast growing but underserved aviation industry, is also part-way through privatizing Saudi Arabian Airlines’ various businesses.
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