IRAN TO SELL MAJORITY STAKE IN IRAN AIR

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By TESTCustomwebLP TESTCustomwebLP November 15, 2010 10:18

IRAN TO SELL MAJORITY STAKE IN IRAN AIR

Iran Privatization Organization deputy Mehdi Aqdaii has stated that 50% plus one share of Iran’s flag carrier (Iran Air) will be soon sold in the stock market.

Iran Air, or Airline of the Islamic Republic of Iran, flies to 60 destinations, 35 international and 25 domestic routes. The cargo fleet operates services to 20 scheduled and five charter destinations.

According to Iran’s Fourth Five-Year Economic Development Plan (2005-2010), the Iranian Privatization Organization, affiliated to the Ministry of Economic Affairs and Finance, is in charge of setting prices and ceding shares to the general public and on the stock market.   In 2007, Supreme Leader Ayatollah Ali Khamenei issued a directive ordering government officials to speed up implementation of the policies outlined in the amendment of Article 44, and move towards privatization.

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By TESTCustomwebLP TESTCustomwebLP November 15, 2010 10:18
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