New Saudi Airlines chief says work underway to privatize remaining units

The newly-appointment chairman of Saudi Arabian Airlines, Ghassan Al-Shibl, said work is underway to privatize the remaining sectors of the national carrier.

Saudia is seeking to expand its fleet and improve its ground and air services, Al-Shibl told Al-Ekhbariya television.

On Monday, Saudi Arabia’s cabinet approved the appointment of Al-Shibl, and renamed new members to the board.

Saudia plans to privatize six segments of the carrier. It has already sold shares of the catering and ground services in initial public offerings (IPO), according to an Argaam report.

It’s preparing to sell 30 percent of the cargo segment in an IPO this year, the company said last year.