The nationally-owned carrier Saudi Arabian Airlines (Saudia) is seeking to raise $1.3 billion (5 billion Saudi riyals) via the first tranche of a sukuk issuance programme in the second or third quarter of this year.
The funds will be used to finance fleet expansion, as the carrier aims to operate 200 aircraft by 2020. The airline has been spinning off units in the last several years; it is now preparing documentation to hive off its cargo unit in an initial public offer of shares.
Our sister publication, Supply Chain Digital, covered the work of the airliner in a full report:
“Starting out with a single airliner back in 1945, Saudi Arabian Airlines has grown to one of the world’s leading airlines, with over 30 million guests served by 45,000 employees in 5,000 locations across 100 destinations. And unlike many other airlines, the national carrier operates around the clock.
The rest of which can be read here.
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