Saudia confirms IPO hopes

Saudi Arabian Airlines has confirmed it is planning an initial public offering (IPO) but has not yet indicated how much of the airline it plans to list or when. Director general Saleh Al Jasser commented that the IPO is part of a five-year strategy to make the airline profitable by 2020. Rather than wait to list before the airline makes a profit for the first time, Al Jasser suggests a listing could take place before profitability is realised. Saudia’s catering arm has already been privatized, by the sale of a 30% stake sale in 2012, while 30% of Saudia’s ground