Saudi Arabia wealth fund in talks to acquire national airline Saudia: Report

Saudi Arabia’s sovereign wealth fund is in discussions to acquire the national airline Saudia, as reported by Bloomberg. The Public Investment Fund (PIF), managing $925 billion in assets, aims to invest in tourism and transport to develop Saudi Arabia as a tourist destination and diversify the economy. The potential acquisition would transfer Saudia’s ownership to PIF to enhance efficiency and profitability. The airline, established in 1945, operates a fleet of 144 aircraft and serves over 100 destinations. The valuation of the airline and the outcome of the talks remain uncertain at this stage. The full report can be found on Bloomberg’s website.

Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), is in talks to buy the national airline Saudia, according to Bloomberg. The PIF, which oversees $925 billion in assets, aims to invest heavily in tourism and transport assets to diversify the kingdom’s economy away from oil. The potential acquisition would allow the PIF to increase Saudia’s efficiency and profitability, with the possibility of privatization or merger with Riyadh Air, another airline owned by the PIF. Saudia, founded in 1945, operates a fleet of 144 aircraft and flies to over 100 destinations. The valuation of the airline is unknown, and talks are still in the early stages.

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