Posted on: Saturday 1 September, 2012 4:31
|Saudi GACA Seeks to Cut Price of Fuel Sold to Foreign Airlines
(Zawya Dow Jones)--Saudi Arabia's General Authority of Civil Aviation, or GACA, is in talks with Saudi Aramco and other local official bodies to cut the price of jet fuel sold to foreign airlines using the country's airports, Saudi-based Al Eqtisadiah daily reports Saturday, citing an official.
The price cuts could also apply to the new airlines that will soon be granted licenses to operate domestic flights in the kingdom, Faisal Al Sugair, GACA's vice president, told the paper.
The national carrier Saudi Arabian Airlines buys fuel at a subsidized price.
Mr. Sugair told the paper the aim is to create a competitive environment and to match local prices with the global average. He added that the rates charged by Aramco are higher than similar prices in neighboring countries such as Sudan.