Khaleej Times 20th August, 2004
Iran's parliament has agreed to privatise 49 per cent of the country's national carrier Iran Air, Teheran newspapers reported.
The government will retain a 51 per cent stake in the airline in order to "prevent the private sector from taking over the majority," the reports added. Parliament also approved the flotation in its entirety of Iran Air Tours (IAT), an Iran Air subsidiary that handles around 30 per cent of domestic flights.
The MPs' decision has yet to be approved by the Guardians' Council which has powers to vet all legislation.
Shares in Iran Air will not be easy to sell, as the company is thought to have suffered losses of some 122 million dollars (100 million euros) from 2002 to 2003 and private investors are reluctant to invest in a company while the government retains majority control. |