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.