Saudi king's advisers recommend quick IPO for carrier
* Recommends IPO instead of piecemeal sale of units
* Also recommends purchase of short-, medium-haul aircraft
By Souhail Karam
RIYADH, July 5 (Reuters) - Saudi Arabia's advisory Shura Council recommended on Sunday an initial public offering for flag carrier Saudi Arabian Airlines [SAUD.UL] instead of selling off its units piecemeal in a privatisation effort.
The council's transport and telecommunications committee made its recommendation in response to an annual report by the state-controlled firm, also known as Saudia, said Abdul-Aziz Al-Tuwaijri, a Shura member who heads the committee.
"The committee includes experts in the field ... It (committee) added a proposal by one Shura member, Saud al-Shammari, who advised that Saudia should remain under the state's control," Tuwaijri told Reuters.
"So the committee's recommendation was that the state owns the firm and a stake of its capital is sold to the public instead of selling its units to private firms," he added.
The committee's proposals were approved by the majority of the council's members, Tuwaijri said. Continued...
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