Saudi Arabian Airlines to raise 5 bln riyals in Islamic bonds in Q2

January 24, 2016 4:51 PM

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DUBAI Jan 24 Saudi Arabian Airlines (Saudia), the kingdom's national carrier, plans to raise as much as 5 billion riyals ($1.33 billion) in Islamic bonds (sukuk) in the second quarter to refinance existing debt and purchase new aircraft, an airline official said.

Saudia is in negotiations with local banks, the airline's director-general Saleh al-Jasser was quoted as saying in a Bloomberg interview on the sidelines of the Bahrain airshow.

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