Middle East: Saudi Airlines sells 30% of freight division

An agreement has been reached to sell 30 per cent of Saudi Arabian Airlines’ freight division to Tarabut Air Freight Services Company. The agreement, signed in September, will see Tarabut work as a strategic partner of Saudi Arabian Airlines in the freight sector, the Saudi Press Agency reported. Freight sector revenues rose above SR1.7 billion […]


freight division Saudi Airlines sells


An agreement has been reached to sell 30 per cent of Saudi Arabian Airlines’ freight division to Tarabut Air Freight Services Company.

The agreement, signed in September, will see Tarabut work as a strategic partner of Saudi Arabian Airlines in the freight sector, the Saudi Press Agency reported.

Freight sector revenues rose above SR1.7 billion (US$453 million) and exceeded SR1 billion in the first half of 2008, which Khalid Bin Abdullah Almolhem, Saudi Airlines Director General, described as an unprecedented achievement in the history of theairline.