PIF Engages in Talks for Potential Acquisition of Saudia
Bloomberg's report suggests that the potential acquisition could entail various scenarios, including privatization or a merger with PIF-owned Riyadh Air.
Saudi Arabia's Public Investment Fund (PIF) is currently in discussions regarding the acquisition of state-backed airline Saudia, according to Bloomberg.[1]
If finalized, the deal is expected to significantly expand the sovereign wealth fund's portfolio within the aviation industry by early 2025. Moreover, it is anticipated to contribute to Saudia's operational efficiency and financial performance.
Bloomberg's report suggests that the potential acquisition could entail various scenarios, including privatization or a merger with PIF-owned Riyadh Air. However, the exact value of the proposed deal remains undisclosed at this stage.
Saudia has a fleet encompassing more than 142 aircraft and serving over 90 destinations worldwide.
Nevertheless, sources caution that the implementation of the plan may face delays or be altogether abandoned, highlighting the fluid nature of the negotiations.
Minister of Tourism Ahmed Al-Khateeb outlined Saudi Arabia's ambitious tourism goals, aiming to attract 150 million visitors by 2030.[2]
