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BNP-PARIBAS SELECTED TO MANAGE THE PRIVATISATION OF SAUDI AIRLINES.

A consortium led by the French bank BNP-Paribas has been selected to manage the privatisation and restructuring of Saudi Arabian Airlines. The consortium also includes the aeronautics industry consultants Sh-E, based in the United States, the investment banking group GIC-GIB, and the international accountancy group KPMG. Operating a modern fleet of 126 aircraft and carrying 13.3 million passengers in 1999, the State-owned Saudi Arabian Airlines is the largest operator in the Middle-East, Africa and South-East Asia. Revenue for last year is estimated at more than USD3 billion. Riyadh launched a process of privatisation of public companies in 1997 in order to reduce bureaucracy and uncouple their development from fluctuations in oil prices, which currently regulate the Government's investment capacity.

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Comment:BNP-PARIBAS SELECTED TO MANAGE THE PRIVATISATION OF SAUDI AIRLINES.
Publication:European Report
Article Type:Brief Article
Geographic Code:7SAUD
Date:Oct 25, 2000
Words:120
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