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Saudia in talks to buy 50 new aircraft

February 6, 2014 11:39 am

Saudi Arabian Airlines (Saudia) has said is in talks with Boeing and Airbus to buy 50 new aircraft to boost its domestic and international fleet network, Arab News has reported. “We will have to decide on purchasing the new aircraft before the end of the year,” said Saudia’s vice president for maintenance, Abdul Rahman Altayeb. He also confirmed plans to launch an initial public offering (IPO) for Saudi Airlines Cargo Co, a subsidiary of Saudia, in 2014 and an IPO for its maintenance company, Saudia Aerospace Engineering Industries in 2015. “The Cargo IPO will be organised sometime this year after receiving approval from the Capital Market Authority,” Altayeb said, adding that there is a big demand for the company’s IPO.