By Mohamed Idries
Riyadh – Mubasher: Saudi Arabian Airlines (Saudia) is studying the establishment of a new low-cost carrier, as part of efforts to boost current capacity for local and regional aviation, said Saleh Al-Jasser, GM of Saudi Airlines.
The statement came on the sidelines of the Saudi-U.S. Business Opportunities Forum taking place in Riyadh.
Al-Jasser added that the air cargo industry contributes 2% of national income, expecting this rate to rise to 5% in the coming years.
The GM told Mubasher that Saudi Airlines Cargo among other subsidiaries is the most likely to be floated, adding that the flotation requires some internal measures before filing with the Capital Market Authority.
Saudia would invest SAR 60 billion in the coming five years in upgrading its fleet and routes, he revealed, adding that the number of its aircraft would reach 200 by the year 2020.
Translated by Sayed Abdel Rahman
