Wednesday, 08 October 2008 |
updated 1 minute ago
02:17 UAE time

YOUR DIRECTORY /

Iraqi Airways plans $100mn stake sale

by This email address is being protected from spam bots, you need Javascript enabled to view it on Monday, 24 December 2007

Iraq plans to sell majority stakes in three Iraqi Airways units next year to private investors to raise $100 million, the country's acting transport minister said in comments published by Middle East Economic Digest (MEED).

The government would sell stakes of between 60 and 65% in the carrier's ground handling, maintenance and catering units, the weekly magazine quoted Bangen Rekani as saying.

The airline was in talks to buy up to 10 aircraft from Boeing Co, Rekani said.

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"We want to open the company to the market early next year," Rekani said. "We will reinvest in new equipment," he said.

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