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Asharq Al-Awsat

Asharq Al-Awsat

Saudi SAMI Signs Agreement with Airbus on Joint Venture

A logo of Airbus is seen at the entrance of its factory in Blagnac near Toulouse, France. REUTERS/Benoit Tessier

Saudi Arabian Military Industries (SAMI) has signed an agreement with Airbus to form a joint venture specialized in military aviation services and maintenance, repair and overhaul capabilities, SAMI said on Saturday.

The company said in a statement that Saudi Arabia would own 51% of the joint venture with the European planemaker holding the other 49%.

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