Riyadh – Mubasher: Saudi Arabia on Tuesday hired Goldman Sachs to manage the stake sale of Riyadh's King Khalid International Airport, according to Reuters.
This comes as the first major privatisation of an airport in the Kingdom, as the Saudi Civil Aviation Holding is determined to sell a minority stake in the airport, sources told Reuters, adding that the stake size could be significant.
Hussien Al Zahrani, head of the Committee of Aviation at Jeddah’s Chamber of Commerce and Industry, said that the privatisation of the Airport will raise the number of airlines landing there from 37 to between 50 and 60 international airlines within five years of privatisation.
In April 2017, chairman at the Saudi Civil Aviation Holding Company Faisal Al Sugair said that Saudi airports will turn into public investment funds in 2018 as part of the privatisation plan.
