ISLAMABAD – Shaheen Air International (SAI) to be acquired by Saudi Prince,media report has suggested.
As per the media report, Shaheen Air has finalized its acquisition dealwith a Saudi Prince. The takeover is likely to happen over the course ofthe next 2 months.
Javed Sehbai, Acting CEO, SAI said:
We have finalized the deal with a Saudi Prince. We will be conducting apress conference very soon to announce our Investor and share the detailsof the acquisition. This deal will be a breakthrough for the airline aswell as for Pakistani aviation industry itself.
He further added,
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It’s a matter of few weeks that Shaheen Air will be in the skies again andshine brighter than before. We are very thankful to our regulator CAA andFBR. Due payments of government regulatory bodies and our employees’salaries are our first priority and will be cleared during the first stageof our investment plans.
Earlier it was reported that the Saudi prince had called off the deal afterSAI reportedly submitted a fake audit report and business plan.
Shaheen Air, however, denied the report by saying that there was no suchdeal on the cards and that the airline is at the edge of getting thingssorted out in its best interest.
