NAS (National Air Service) restructured and turned into a holding company
Saturday, 25 October 2008
The National Air Service (NAS) has decided to transform into a holding that’s the leading provider of aviation services in the Middle East. The holding includes several specialized companies that resulted from transforming the company’s different functions and activities into independent companies.
NAS stated that it has increased its capital to SR450 million. The net amount of capital that the investors have pumped into the holding company is SR2.35 billion in order to keep pace with the growth that is taking place in the aviation services sector which the company manages in addition to the restructuring of the company and applying future plans for strategic development.
The company's diverse portfolio of products and services includes Nas Air, the Kingdom's first low-cost carrier; NetJets Middle East, which provides fractional aircraft ownership and leasing; Al Khayala Airlines, an all-business-class carrier serving Jeddah, Riyadh and Dubai; Aircraft Management Services, Aircraft Charter Services and other aviation solutions.
The Chief Executive of NAS, Taher Akeel, was able to develop the company to what it is today; he achieved that by dividing the company into independent companies after the restructuring process, in order for the companies to invest in its resources in a better way.
Press Release (National Air Service)