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Exclusive: Saudi private jet industry stalls after corruption crackdown

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Reuters  |  DUBAI 

By Alexander CornwellDUBAI (Reuters) - A crackdown on corruption in Saudi Arabia has severely dented the kingdom's private jet industry in a sign of the impact the campaign has had on private enterprise and the wealthy elite.Dozens of planes, owned by individuals and charter companies and worth hundreds of millions of dollars, are stranded at airports across the kingdom including Riyadh and Jeddah, four people familiar with the matter told Reuters.Some were handed over to the state in settlements reached after the crackdown was launched in late 2017, when dozens of princes, businessmen and ...

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First Published: Thu, January 10 2019. 18:45 IST
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