Matarat Holding Company (Arabic: شركة مطارات القابضة), formerly the Saudi Civil Aviation Holding Company (SAVC) (Arabic: شركة الطيران المدني السعودي القابضة), is a state-owned closed joint-stock company based in Riyadh, Saudi Arabia that offers services in aviation management. Established in 2013 by the country's General Authority of Civil Aviation, it today operates all of Saudi Arabia's 29 civilian airports through its four wholly owned subsidiaries.
شركة مطارات القابضة | |
 | |
| Formation | April 13, 2013 |
|---|---|
| Type | State-owned enterprise |
| Headquarters | Riyadh, Saudi Arabia |
Key people | Abdulaziz al-Duailej, Chairman |
Parent organization | General Authority of Civil Aviation |
| Subsidiaries | Riyadh Airports Company Jeddah Airports Company Dammam Airports Company Cluster 2 Airports Company |
| Website | www |
Formerly called | Saudi Civil Aviation Holding Company (2013–2020) |
History and background
editThe Saudi Civil Aviation Holding Company was established on April 13, 2013, through a decision of the Board of Directors of the General Authority of Civil Aviation. Its establishment was based on the Royal Decree No. (M / 78) dated 20 /11/1429 AH, corresponding to 18 November 2008 issued by King Abdullah, that allows privatization of Saudi Arabia's aviation sector under the General Authority of Civil Aviation.[1][2]
In an interview with al-Eqtisadiah in September 2013, Prince Fahd bin Abdullah al-Saud, then president of the General Authority of Civil Aviation floated the idea of privatization of Saudi Arabia's international airports before 2022 while opening them up to investments.[3]
In 2014, Okaz reported that the Saudi Civil Aviation Holding Company intends to privatize the King Khalid International Airport by September 2015.[4][5] In March 2015, the General Authority of Civil Aviation established the Riyadh Airports Company as a wholly owned subsidiary of the Saudi Civil Aviation Company.[6][7][8]
In November 2015, the General Authority of Civil Aviation announced that Saudi Arabia's international and domestic airports would soon be opening up to foreign investments and will be privatized by 2020, beginning from the first quarter of 2016.[1][9] The decision came as a result of falling oil prices due to the rampant global oil glut that was affecting the country's economy as well as attempts to privatize government-owned assets.[10][11] In July 2016, the responsibilities of King Khalid International Airport was transferred to Riyadh Airports Company.[12]
In July 2017, the General Authority of Civil Aviation established the Dammam Airports Company as a subsidiary of the Saudi Civil Aviation Holding Company to operate the King Fahd International Airport, Al Ahsa International Airport and Al Qaisumah/Hafr al Batin Airport.[13][14]
in 2020, the Saudi Civil Aviation Holding Company's rebranded itself as the Matarat Holding Company.
In 2021, Bloomberg reported that the Saudi government relaunched its privatization strategy after the General Authority of Civil Aviation announced transferring of all civilian airports in the country to Matarat Holding.[15][16][17]
The General Authority of Civil Aviation and Matarat Holding established the Jeddah Airports Company to operate the King Abdulaziz International Airport and Cluster 2 Airports Company for the rest of civilian airports in early 2022.[18] In November 2022, Abdulaziz al-Duailej, the head of General Authority of Civil Aviation hinted the possibility of trading the company on Tadawul, the Saudi Stock Exchange.[17]
References
edit- ^ a b "السعودية تبدأ بخصخصة المطارات العام القادم". العربية (in Arabic). 2015-11-15. Retrieved 2023-03-01.
- ^ contributors, Mark Otto, Jacob Thornton, and Bootstrap. "شركة مطارات القابضة". manhom.com (in Arabic). Retrieved 2023-03-02.
{{cite web}}:|last=has generic name (help)CS1 maint: multiple names: authors list (link) - ^ "خطوات متقدمة لتعديل أسعار وقود الطائرات". صحيفة الاقتصادية (in Arabic). 2013-09-02. Retrieved 2023-03-02.
- ^ الشرق (2014-04-01). "خصخصة أكبر مطار في السعودية سبتمبر المقبل". al-sharq.com (in Arabic). Retrieved 2023-03-02.
- ^ "خصخصة أكبر مطار في السعودية سبتمبر المقبل". بوابة الأهرام (in Arabic). Retrieved 2023-03-02.
- ^ البرقاوي, عبدالله. "مدير "مطار خالد" في حوار مع "سبق": نحتاج إلى خبرات موظفينا ولن نستغني عنهم". صحيفة سبق الالكترونية (in Arabic). Retrieved 2023-03-01.
- ^ "شركة "مطارات الرياض" تدشن هويتها الجديدة". أرقام (in Arabic). Retrieved 2023-03-01.
- ^ "تجديد عضوية أعضاء مجلس مديري شركة الطيران المدني السعودي القابضة". صحيفة مال (in Arabic). 2015-11-20. Retrieved 2023-03-01.
- ^ Defaiya, Al (2016-01-06). "Al Defaiya | Saudi Arabia to Privatize Jeddah, Dammam Airports in 2017". www.defaiya.com. Retrieved 2023-03-01.
- ^ "Jeddah, Dammam airports said to be privatized in 2017". ArgaamPlus. Retrieved 2023-03-01.
- ^ "Saudi airport privatisation ramps up as oil prices continue to fall". CAPA - Centre for Aviation. Retrieved 2023-03-01.
- ^ جدة, رغدة السليماني- (2016-05-31). "30 يوما تفصل موظفي مطار الرياض عن الخصخصة". صحيفة مكة (in Arabic). Retrieved 2023-03-01.
- ^ "DACO Plans to Transform Dammam Airport into Regional Hub". Asharq AL-awsat. Retrieved 2023-03-02.
- ^ "Saudi Arabia's King Fahd International aims to become regional high-flyer". Arab News. Retrieved 2023-03-02.
- ^ "Kingdom Re-Launches Airports Privatization Strategy, Eyes 2023 Opening for Major Red Sea Tourism Project | SUSTG.com – News, Analysis, and Features on all things Saudi Arabia". Retrieved 2023-03-01.
- ^ "GACA to transfer all Saudi airports to Matarat Holding by 2022: Exec". ArgaamPlus. Retrieved 2023-03-01.
- ^ a b "GACA's Al-Duailej says Matarat Holding IPO on Tadawul possible". ArgaamPlus. Retrieved 2023-03-02.
- ^ "GACA, Matarat announce completion of institutional transformation of 25 airports". Saudigazette. 2022-02-09. Retrieved 2023-03-02.