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Sunday, 22 November 2009 06:40 UAE time

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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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READER COMMENTS

  1. UAE announces Eid and National Day holidays 02
    21 Nov ' 09 at 10:22
    Is it any wonder that Emiratis are reluctant to work in the private sector? One day extra and no request for early payment of salaries.   More  »
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    21 Nov ' 09 at 14:10
    What happened of Last Minute and their 28 outlets - one on each station?   More  »
  3. Dubai plans start-up help for expat entrepreneurs 01
    21 Nov ' 09 at 11:37
    this is great news really makes sense, especially since Small & Medium Enterprises actually make UAE. I sincerely hope that this is...   More  »

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