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Saudi wealth fund PIF invests in Saudia Technic to create national MRO 'champion'
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PIF invests in Saudia Technic to establish National MRO Champion in the aviation sector
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The Public Investment Fund (PIF) said on Thursday that it signed an agreement to invest in Saudia Technic, a subsidiary of Saudia Group. Formerly known as Saudia Aerospace Engineering Industries, Saudia Technic has a long-established presence and rich legacy in Saudi Arabia, tracing its roots back to the 1960s. It provides services across key aviation maintenance, repair and overhaul segments (MRO), including line, base, components and engines.
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