The Supreme Economic Council (SEC) has approved the executive program to privatize Saudi Arabian Airlines, amongst other decisions taken by the SEC. Like endorsing the executive program for the expansion and upgrading of the Haj Terminal at King Abdul Aziz International Airport in Jeddah.
Saudi Arabian Airlines has already taken a series of steps for its privatization, currently, the airline is focusing on transforming non-core units including catering, ground handling services and maintenance as well as the Prince Sultan Aviation Academy in Jeddah, into commercial units and profit centers. The airline announced that to this date, it has completed one of the three phases of its privatization plan, which included studies on the airline's financial, administrative, operational and organizational aspect as well as restructuring of its administration, finance and operation.
During 2005, Saudia posted a record revenue of SR 14.6 billion, which is SR 1 billion more than the figure of 2004, and it also achieved a net profit SR 500 million. This comes after MS , MEA and RJ were all in the black with good profit in 2005 .
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