Saudia sets $476m for cargo unit expansion
Riyadh, April 12, 2014
Saudi Arabian Airlines (Saudia) plans to pump in $476.7 million over the next five to seven years to boost its cargo ground handling facilities, said a report.
About $26.7 million will be injected into Saudia Cargo for urgent investment in its ground facilities over the next 12 months, while the $450 million will be spent in its hubs at Riyadh, Jeddah and Damman over five to seven years, reported the Gulf News citing a senior official.
“This is a complete investment in Riyadh, Jeddah and Damman including the proposed cargo village which is going to be based in the headquarters at the King Abdulaziz [International] Airport in Jeddah,” said Amer Abu Obeid, the director sales for Mena & Turkey at Saudi Airlines Cargo.
He said that the investment will start in the next 12 months, he added.