Airports

Investors concerned over private Madinah airport project

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.
 

More Airports
Skytrax announces list of best airports for 2018
Passenger traffic at Doha’s Hamad International Airport grows by 20%
World’s first 7-star airport inaugurated
Latest Travel News
flydubai will fly to Tashkent from 11 Ma...
ATM Dubai to launch Holiday Shopper on 2...
Agoda partners with Saudi Ministry of ...
Featured Sights To See
Rialto Cinema

Rialto Cinema

Casablanca, Morocco

Rialto Cinema, which still functions as a movie house, is a delight to visit with its gaudily painted art deco both  inside and out. Address: Corner of rue Mohammed el Quorri and rue Salah Bouchaib, Casablanca Tel: 022 262 632                    ...

Cholon (China Town)

Cholon (China Town)

Ho Chi Minh City, Vietnam

Inhabited by the largest ethnic minority in the country, the Chinese of Vietnam, Cholon is a bustling commercial center and a distinctly different city from Saigon.  Within the district, where you can find shops, temples and restaurants, make sure to check out Binh Tay Market, which sells medicines, spices, fresh produce and poultry and the temples around it- Qun Am and Thien Hau, as well as ...

Metropolitan Cathedral

Metropolitan Cathedral

Mexico City, Mexico

An absolute delight for the history-lover! Experience a different kind of Spanish architecture, comprised of the European High Renaissance merged with some elements from the remains of Islamic architecture back in Spain, namely domes and square towers. The building presents a beautiful façade, and the interior is none the less charming, and it is at times difficult to comprehend what style of arch...

The Natural History Museum

The Natural History Museum

Colombo, Sri Lanka

The Natural History Museum is famous for displaying Sri Lanka's flora and fauna in dioramas. Closed Fridays and all public holidays. 9AM-5PM. Sir Marcus Fernando Mawatha, Colombo 7. Phone: 0094112 691399. ...