Saudi Arabia’s USD925 billion sovereign wealth fund is in talks to buy Saudia (SV, Jeddah International), according to Bloomberg. Under the proposal, ownership of the airline would switch from the government to the Public Investment Fund (PIF) in a bid to improve profitability and operational efficiencies. The fund would also invest billions of dollars in the carrier.
The talks are in their early stages and there is no guarantee a deal will emerge, the report noted. According to ch-aviation PRO…
Source: ch aviation
Read more: Sovereign wealth fund in talks to buy Saudia – report