SAUDI PRIVATE JET INDUSTRY STALLS AFTER CORRUPTION CRACKDOWN

Reuters on 9th January carried an exclusive article saying that a crackdown on corruption in Saudi Arabia has severely dented the kingdom’s private jet industry.  Dozens of planes, owned by individuals and charter companies and worth hundreds of millions of dollars, are said to be stranded at airports.  Some were handed over to the state in settlements reached after the crackdown was launched in late 2017.

https://uk.reuters.com/article/us-saudi-crackdown-planes-exclusive/exclusive-saudi-private-jet-industry-stalls-after-corruption-crackdown-idUKKCN1P30JN

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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