2005 News Story

SAA reports record earnings in 2004

Second Deputy Prime Minister, Minister of Defense and Aviation and Inspector-General Prince Sultan bin Abdulaziz in a press statement today commended the outstanding performance of Saudi Arabian Airlines (SAA), which has reported last year’s revenue as SR13.53 billion [U.S. $3.61 billion], a record high and SR3.37 billion [$0.9 billion] more than in 2003. He also spoke of the airline’s international reputation for service and for safety, commenting on the IATA Operational Safety Audit Certificate awarded to SAA without reservation, topping the list of 43 airline companies that applied for the accreditation.

SAA Director-General Dr Khaled bin Bakr attributed the airline’s success to its ability to cut expenses without affecting safety and service, pointing out that in 1998, SAA was running at a loss. It was not until 2002 that SAA posted its first profit, SR117 million [$31.24 million], a sum that rose to SR440 million [$117.49 million] in 2004.