The General Authority of Civil Aviation of Saudi Arabia has announced a plan to privatise the kingdom’s international and domestic airports according to a five-year scheme starting in 2016 to 2020.
According the plan, the King Khaled International Airport in Riyadh will be privatised under a new name: “Riyadh Airports Company”, in the first quarter of 2016.
The kingdom’s civil aviation market will be privatised under a new company called “Air Aviation Services Company” in the second quarter of next year, while the nation’s aviation information technology domain will be run by a company named “The Saudi Company for Aviation Information Systems”.
Other strategic units of the kingdom’s civil aviation sector and local airports will be privatised according to the schedule set by the General Authority of Civil Aviation.
The scheme aims to improve services, develop airports’ performance, start commercial and competitive services, achieve financial independence and support the national economy, according to a report by Al Eqtisadiah.
Officials said the privatisation of airports is the best way to upgrade services and achieve financial independence and help airports grow further.