Saudia may turn profitable in 2022 or 2023: CEO
State-owned Saudi Arabian Airlines (Saudia) could return to profitability this year or next, CEO Ibrahim Koshy said on Monday at the Arabian Travel Market in Dubai.
This is earlier than the company’s previous expectation of a returning to profitability in 2024, Koshy said, adding that travel has picked up faster than anticipated and is 83% recovered from pre-pandemic levels.
The company has also secured funding for 73 new aircraft, Koshy added. (Source: Reuters)