Aviation regulator opens sector to investors

Saudi Arabia's General Authority Of Civil Aviation, or GACA, said yesterday it will allow foreign and local investors to operate domestic and international flights in the kingdom. GACA is currently working with advisers on the technical procedures of the bid, which is expected to be announced in January, it said in an emailed statement. Earlier this year, the auth-ority said it was considering a plan to open up the kingdom's skies to Gulf carriers but didn't specify when it might reach a decision. In April, the Shura Council, an advisory body appointed by King Abdullah Bin Abdul Aziz, said it was looking at a proposal to give Gulf carriers lic-ences to operate domestic flights in order to meet growing demand. Article continues below Two carriers The Arab world's largest economy currently has two operational airlines — state-owned Saudi Arabian Airlines and low-cost carrier National Air Services. Its third carrier, Sama Airlines, ceased operation last year after talks with the government failed to yield a commitment to support the company.