Saudi Arabia is to cut airport charges by as much as 35 percent later this year as it seeks to lure passengers and compete with other airlines in the region, Bloomberg reported.
To be applied to Riyadh, Jeddah and Dammam airports, the price reduction is the next step in the continuing privatization of the sector, the General Authority of Civil Aviation announced at the UK’s Farnborough air show.
Airports will be allowed flexibility to reduce charges below the announced caps to maximize growth, GACA said at the aerospace and defence industries exhibition.
Most recently, Saud Arabia has opened up its airspace to airlines flying from and to Israel.
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