Saudi Wealth Fund to Set Up Airline Company, Maaal Reports
(Bloomberg) -- Saudi Arabia’s wealth fund plans to establish an airline company in collaboration with other investment entities, the online Maaal newspaper reported, citing unidentified people.
The company will operate international and domestic flights, according to the report, which didn’t provide further details.
State-owned Saudi Arabian Airlines is the biggest carrier in the kingdom. Others include low-cost carrier Flyadeal, owned by Saudi Arabian Airlines, and Flynas, owned by Prince Alwaleed Bin Talal Al Saud’s Kingdom Holding.
|Saudi Wealth Fund Is Upbeat on Deals for Local Manufacturing|
|Saudi Wealth Fund Considering Other IPOs of Companies It Owns|
|Saudi-Backed Lucid in Talks for Electric Car Factory Near Jeddah|
©2021 Bloomberg L.P.