I work in Aviation, and sadly that's the rumor going around now.
Frankly, it's bad for business and they'll see it soon enough after they give approval for this company to take over. As it stands, we are currently struggling with the contractors we have now in terms of paying them on time and conforming to the contract requirements regarding work schedules. As a result the morale is very low and the majority are actively seeking employment elsewhere - we had 11 quit and simply not get on the plane to return to work last year alone. Also, several of their contracts are up for renewal and they've already tried getting them to sign on again for three year terms at lower pay, while working more. Not a single one has agreed to the terms and a few have committed to resign instead.
If implemented this will mean that the Aramcon pilots will convert and become a contractor just like them. Most have already said they'll just leave, and they will vs. tolerating the above-mentioned conditions. So with our optempo, amount of aircraft, and manpower requirements there's noway we will maintain operations under such a regime when there's not nearly enough Saudis to fill the vacancies created by the expat exodus, and won't be for at least 3-5+ more years.
If it's about salary then they had already increased the local's pay by introducing a flight hour bonus, which unto itself, should give pause for concern whenever you need to pay someone to show up to work and do their actual job. Literally, they're getting paid extra per one hour they fly to incentivize work they were already supposed to be doing.
But hey let's start paying them all 40-50k sar a month for their "expertise" even for those that are fresh graduates with zero flying experience.
After being here 10+ years it never ceases to amaze me how they always manage to ruin something that was actually good and worked.