His Royal Highness Prince Sultan Bin Abdulaziz Al Saud, the Second Deputy Premier, Minister of Defence and Aviation of the Kingdom of Saudi Arabia, Chairman of the Board of Saudi Arabian Airlines, and Mr. Michel Pébereau, Chairman and CEO of BNP Paribas, signed an advisory mandate whereby BNP Paribas will be the sole financial advisor to Saudi Arabian Airlines on its restructuring and privatization.
The consortium led by BNP Paribas also includes SH&E, a US-based airline industry consultancy; GIC-GIB, the Gulf and Saudi investment banking group; and KPMG.
The award of this mandate to BNP Paribas after a highly competitive tender process is evidence of the international banking group's strengths and ambitions in the field of investment banking, and a clear sign of BNP Paribas' intentions to contribute strongly to the development of the Saudi economy. This mandate was won by the BNP Paribas Corporate Finance teams with effective support of the International Retail Banking network.
With 12.8m passengers carried in 1999, Saudi Arabian Airlines is the largest operator in the Middle-East, Africa and South Asia area. Revenues are estimated at US$ 3 bn. South Arabian Airlines operates a modern fleet of 126 aircraft.
The consortium led by BNP Paribas also includes SH&E, a US-based airline industry consultancy; GIC-GIB, the Gulf and Saudi investment banking group; and KPMG.
The award of this mandate to BNP Paribas after a highly competitive tender process is evidence of the international banking group's strengths and ambitions in the field of investment banking, and a clear sign of BNP Paribas' intentions to contribute strongly to the development of the Saudi economy. This mandate was won by the BNP Paribas Corporate Finance teams with effective support of the International Retail Banking network.
With 12.8m passengers carried in 1999, Saudi Arabian Airlines is the largest operator in the Middle-East, Africa and South Asia area. Revenues are estimated at US$ 3 bn. South Arabian Airlines operates a modern fleet of 126 aircraft.