GACA okays economic policy to transform airport services
Kingdom of Saudi Arabia’s General Authority of Civil Aviation (GACA) has set a new economic policy framework that hopes to transform the KSA’s aviation sector. GACA president Abdulaziz Al-Duailej claimed the GACA framework will set the most significant transformation of its economic regulations since the launch of the Kingdom’s Vision 2030. The regulations will realize the KSA Aviation Strategy, which is mobilizing US$100bn in investment from public and private sector sources by 2030. The policies, approved on 30 October, cover airport services, including ground handling services, air cargo and air transport services. Seeking to aim for investments of US$100 billion by 2030, the framework aligns with the KSA’s expansion strategies and boosts support for the privatisation of airports. The airports now have more freedom to diversify their revenue streams by expanding non-aeronautical earnings and will be able to propose fees under GACA’s policy frameworks.