Firas Al-Sabbagh CMA CFM

NAGS is an EASA Part 145 certified Line Maintenance approved organization, with the capability to handle different types of aircrafts with almost all fitted engines in addition to many support services.

Led the company from a new start up till it became a well-established profitable company with remarkable revenue. With help of the team I was able to develop feasibility study, strategy including the mission and vision. Collectively with executive team, we developed a framework to help in executing the strategic initiatives that are covering business processes, talent acquisition, policies and standard operation procedures including authority matrix, and performance measures.

Chaired the Head of Business Development Committee to research a Joint Venture Project with leaders in the aircraft MRO sector.

Present and provide periodic reports to for the Board of Directors. As well as review the new strategic directions and new investments opportunities and expansions.

Supervised the design and implementation of an ERP system including the financial modules, HRMS and Payroll in addition to the Contracting and Billing verticals that are fully integrated with the ERP.

Key Achievements in NAGS:
• Managed US$ 640 Million worth of investments.
• Reduced 70% in billing time with 99% accuracy accomplished by performing Process Reengineering and deploying enhancements on the billing system.
• Recovered US $20M and US $41M by winning two cases against TAX Department.

The known and reputable Aircraft MRO company with over 1200 staff and 6 hangers, provides full maintenance services and supply of materials and tools.

I was responsible to manage the preparation of annual budget and monthly reports, performance Vs Budget and present findings to Board of Directors. Manage report on cash flow, collections, and forecasting. Oversee large accounting staff in preparation of financial statements, cash flow analysis, and management of lines of credit. Analyze projects and new investments.

Acted as corporate liaison with lenders, auditors, lawyers and consultants. Designed Finance Department Organization Structure and Utilized Microsoft Dynamic Great Plains to measure profitability by customer and by service. Wrote Corporate Financial Policy and finance department policies and procedures including KPIs. Train and guide staff in best-practice accounting process and revenue recognition. Improved efficiency and accuracy while reducing billing cycle and eliminating errors.

Key Achievements in JORAMCO:
• Drive the organization to be profitable in first year with a bottom line of US $5.2M compared to US $ 1.1M losses a year before.
• Led fast track ERP implementation (Dynamics GP) within 3 months.
• Represent the owner as board member in different investments forums.
• Revamped the pricing schema and reflected it in the ERP system, that resulted in boosting the revenue and improving profitability per maintenance service.

The company operated in Airports Ground Handling Services with over 4000 staff, provides services to over 80% of foreign airlines operating to KSA. Heading the Accounting, Procurement, and IT departments, played the major role in changing culture, process re-engineering, organization restructuring, automation processes through system implementation and integrations.

Key Achievements in NHS:
• Reduced consolidated company cost by 30% by establishing Share Service Center for two companies.
• Boosted the company worth from US $32Million to US $640 Billion in six years.
• Leaded the merger between NHS and UNASCO to form National Handling Company (NHS).
• Headed NHS team for the mega merger with Saudi Airlines for establishing Saudi Ground Services (SGS).

NFS operates in travel industry, airport ground handling and CARGO and a major investor in National Aviation Services (FLYNAS) and National Aviation Ground Support (NAGS).

Turned the company bottom line from continues 10 years annual SAR 25 million losses to 10 million net profit in 2 years.

Managed mega merger projects and takeover transactions

A Royal family-owned group that directly owns between 50% to 100% of many investments in different industries including Airlines, Hotels, Airport Services, Travel and Tourism, Farms, and newspapers.

During 5 years’ experience with Deloitte managed many audit engagements with customers in different industries including banking, insurance, manufacturing, trading, hotels, agriculture, newspapers, construction with solid knowledge in IS, IFRS and GAAP