By Mohamed Idries

Riyadh – Mubasher: Saudi Arabian Airlines (Saudia) is planning to offer Saudi Airlines Cargo Company (SACC) for public subscription on the local bourse, said Saleh Al-Jasser, GM of Saudi Airlines.

The statement came on the sidelines of the Saudi-U.S. Business Opportunities Forum taking place in Riyadh.

Al-Jasser told Mubasher that Saudi Airlines Cargo among other subsidiaries is the most likely to be floated, adding that the flotation requires some internal measures before filing with the Capital Market Authority.

The GM also revealed that Saudia would invest SAR 60 billion in the coming five years in upgrading its fleet and routes, adding that the number of its aircraft would reach 200 by the year 2020.

Translated by Sayed Abdel Rahman