Saudi Arabia’s General Authority of Civil Aviation(GACA) is looking to attract more private firms to its aviation sectorthrough an economic policy overhaul, according to a press release. The move comes as the kingdom looks to boost competition in its domestic aviation industry, with a target to pull in some USD 100 bn to the sector by the end of the decade.

Privatization is on the agenda: The authority is looking to draw in the private sector to take over airports, ground handling operations and air cargo, the press release adds. It is also planning to provide airports with incentives, including the introduction of competition standards at airports, as well as anti-competitive pricing measures, the statement added.

As is streamlining licensing operations: The authority also says it will facilitate the economic licensing process for air transport operators and investors, including cargo service providers, according to the statement.

The ball is already rolling: Saudi Arabia’sAbha International Airport, Taif International Airport, Ha’il Regional Airport and Al Qassim International Airport have already expanded their qualifying rules to allow for private operators to take over, Bloomberg reports. GACA has already received inquiries from potential investors who are looking to tap into the aviation sector, Bloomberg quotes GACA’s executive vice president for economic policies and logistics services Awad Al Sulami as saying.

What they said: “The regulations create an open, dynamic and competitive market, setting a level playing field for global operators and investors in the Kingdom,” GACA President Abdulaziz Al Duailej said. Once fully operational, the new policies will draw in larger numbers of investors, Al Sulami added.

Foreign carriers will benefit too: The new policies will exempt charter flights from economic licensing requirements, according to the statement.

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