Director-General of Saudi Arabian Airlines Dr Khaled bin Bakr has announced that plans for privatization of SAA have been completed, and that a feasibility study of the project will soon be presented to the Council of Ministers. SAA is among the top 30 airline companies in the world, carrying over 15 million passengers annually and posting for 2003 a 40-percent increase in its revenues, the largest in its 60-year history. Dr bin Bakr commented that all indicators show a continuation of this profitable trend.
Second Deputy Prime Minister, Minister of Defense and Aviation, and Inspector-General Prince Sultan bin Abdulaziz, in his capacity as Chairman of the SAA Board of Directors, signed agreements in October 2000 with a number of international consultancy agencies to prepare the privatization program. In a related event, he will inaugurate tomorrow the Prince Sultan Aviation Academy, a training center whose foundation stone he laid in July, 2002.