Jordan’s cabinet approved last week the sale of all shares of Royal Jordanian's training center to Flight Safety Boeing Training International (FSBTI), a subsidiary of US aviation giant Boeing for 18 million dollars, the official News agency (Petra) reported.
Head of Jordan's privatization authority Adel Qodah that the profits of the center for the current year will be added to the sum.
The agency added that 0.95 percent of the price (equivalent to $171,000 will be paid to the privatization authority as commission.
Jordan hopes the US firm will turn the training post into "a regional center for pilot training," said Qodah.
He said the government managed through negotiations to raise FSBTI's offer, which was originally 15,0050000 dollars.
The airline is going through a privatization process, and will soon be turned into an IPO prior to selling 49 percent of it to a strategic partner.
According to AFP, of five Royal Jordanian departments that have been turned into joint-stock companies, the government in September sold a free zone to the Spanish company Al Deesa for 60 million dollars.
Royal Jordanian, which serves 45 destinations, has a fleet made up only of Airbus models: nine A310s and three A320s, of which seven are chartered, along with two cargo planes.
FSBTI, which runs 55 pilot training centers in nine countries, is owned jointly by US companies Boeing and Flight Safety International – Albawaba.com
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