Iran Air to offer shares at stock market

Business Materials 7 May 2019 13:20 (UTC +04:00)

Tehran, Iran, May 7


Mohammad Eslami, Iran's Minister of Roads and Urban Development, has announced that Iran Air is to offer its share at the capital market.

"Iran Air company would transform into valuable shares and it will be privatized via capital market.", he said, Trend reports citing Mehr News Agency.

Speaking about the appointment of the new Iran Air chief, the minister noted, "Management changes are natural, but they should hasten the company development. People expect the company to return to its glory, and this requires support of all organizations."

Touching upon the airline debts, he said, "The debts of Iran Air had been accumulated since 1985. However, in past Iranian year (started on March 21, 2018), the government approved allocation of $3.9 million to the company so that Iran Air could pay a part of its debt."

He added, "The capacity of Iran's aviation industry has improved, and the new management contribute to the development of the company."