Shaheen Air finalises acquisition deal

KARACHI: Shaheen Air International finalised acquisition deal with a Saudi Prince and the airline's takeover is likely to happen over the next two months, a statement said on Thursday.

“We have finalised the deal with a Saudi Prince,” Javed Sehbai, acting chief executive officer of Shaheen Air said. “We will be conducting a press conference very soon to announce about our investor and share the details of the acquisition. This deal will be a breakthrough for the airline as well as for Pakistani aviation industry itself.”

Sehbai further said it is a matter of few weeks that Shaheen Air will be in the skies again and shine brighter than before.

“We are very thankful to our regulator CAA (Civil Aviation Authority) and FBR (Federal Board of Revenue),” he added. “Due payments of government regulatory bodies and our employees’ salaries are our first priority and will be cleared during the first stage of our investment plans.”