Vice Custodian of the Two Holy Mosques signs contracts

Riyadh, November 18, SPA -- Vice Custodian of the Two Holy Mosques
Prince Sultan bin Abdulaziz Al Saud signed here today contracts for
the commercial management of King Abdulaziz International Airport in
Jeddah, King Khalid International Airport in Riyadh and King Fahd
International Airport in the Eastern Region with a total value of
SR579.5 million.

The Vice Custodian of the Two Holy Mosques urged the contracts'
parties to adhere to the contracts' provisions and cooperate for the
aim of achieving the desired goals which will benefit all parties,
wishing them every success.

The Vice Custodian of the Two Holy Mosques stressed that the signing
of the contracts is an important step toward achieving the strategic
goals set for the three airports including improving the services
provided to the passengers and airlines to match international
standards to attract a fair share of air traffic in the region and to
become leading airports in it resulting in their gradual
transformation from being government service sectors wholly depending
on the state's budget to financially and administratively independent
organizations that depend on their investments and revenues which can
be increased through following commercial methods like the methods
followed by internationally successful airports and then the three
airports can be transformed to independent companies owned by the
state.

Following the signing of the 6-year three contracts, President of the
General Authority of Civil Aviation Abdullah Rahaimi hailed the
signing by the Vice Custodian of the Two Holy Mosques as support by
the Saudi government for the civil aviation sector.

--SPA