April 11- Investors are raising questions about the viability of the SAR6 billion ($1.6 billion) private airport in Madinah, when the authorities have been unable to collect fees from the government carrier Saudi Arabian Airlines.
The airline owes billions of riyals to the General Authority for Civil Aviation (GACA), which regulates the industry and owns the kingdom's airports and was on a road show in Dubai recently to test investor interests. According to source, firms like the HSBC, Australian bank Macquarie Capital, and local contractors Saudi Oger and Saudi Binladin Group attended the meetings in Dubai last week and were concerned about the Saudi Arabian Airlines' outstanding bills. The carrier, owes SAR11 billion to GACA.
Sources added that this huge unpaid bill as well as the money the kingdom spends on its airline along with large discounts for fuel has weakened the sector and hurt upstart private carriers.
Both Saudi Airlines and GACA have decided to privatize their assets in the coming years.
Churchgate, South Mumbai’s downtown business district is a busy area filled with several banks and offices. This area gets its name from Churchgate Railway Station, a very busy and focal point as it is the terminus of Western Railway line of Suburban Railway and caters to an influx of a large number of passengers daily who com to this area to work. The Income Tax Office is located at Churchgate...
Address: al-Tahrir Square Timings: Saturdays to Thursdays 9am to 12noon, 3pm to 5pm. Fridays 9am to 12pm only Entrance: YER 500 Housed inside a former palace known as the Dar-as-Sada (House of Happiness), this is the place that offers you an overview of how Sana'a came to be, how it has survived the several dynasties that ruled over it, and why the skyscrapers still stand tall today as...
The Temple Street Night Market at Yau Ma Tei, Kowloon is a must visit just to feel the atmosphere. It now opens by 4 pm and as evening approaches it is buzzing with activity. What one can buy is immaterial as there are a lot of fakes sold here, but it is a great place for bargaining for all things from T-shirts to electronics....
This is the oldest souq in the UAE; its areesh (palm leaf) roof and wooden pillars have recently been restored. It also has a traditional coffeehouse where you can indulge in mint tea and dates. Opening Times: Sat-Thu 9am-1pm and 4-9pm, Fri 4-9pm ...