Shura Council requests Saudia to consider break-even point by 2024

01/02/2022 Argaam
Shura Council building

Shura Council building

The Shura Council issued a decision for the 2020/2021 annual report of Saudi Arabian Airlines General Corp., after being informed of the Communications and Information Technology Commission’s (CITC) recommendations.

 

According to the Shura Council, Saudi Arabian Airlines (Saudia) should consider reaching a breakeven point by 2024, in line with other strategic goals, in addition to complying with the other applicable financial and accounting standards in the coming annual reports.

 

Saudia was also requested to address the reasons for Saudia Aerospace Engineering Industries’ (SAEI) accumulated losses, reevaluate its plans in addition to developing public sector partnerships.

 

The state-owned corporation was also required to define its strategies with the Kingdom’s National Transport and Logistics Strategy, while maintaining its identity.

 

The Council’s decision also highlighted Saudia’s development of digital services to improve the clientele experience.

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