Saudi Arabia to privatize 27 airports by mid-2018

Saudi Arabia expects to privatize 27 Saudi airports by mid-2018, Asharq Al-Awsat reported, citing Faisal Hamad Al Sugair, Vice-Chairman of the General Authority of Civil Aviation’s (GACA) board.

By 2020-end, the kingdom’s airports will be financially and administratively independent, a move that will attract foreign investments that are expected to exceed 75 percent in some airports, he said.

There are also plans to convert King Abdulaziz International Airport into an operating company in Q2-2017, while King Fahad International Airport will be converted in Q3.

The 18-month privatization plan is being implemented in partnership with the privatization unit at the Saudi Council of Economic and Development Affairs, Al Sugair added.