Iraqi Airways to sell stakes in three units
Baghdad, December 23, 2007
Iraq plans to sell majority stakes in three Iraqi Airways units next year to private investors to raise $100 million.
The government would sell stakes of between 60 and 65 percent in the carrier's ground handling, maintenance and catering units, Acting Transport Minister Bangen Rekani was quoted as saying by Middle East Economic Digest (MEED).
The airline was in talks to buy up to 10 aircraft from Boeing Co, Rekani said.
'We want to open the company to the market early next year,' Rekani said. 'We will reinvest in new equipment,' he said. - Reuters