By: Mohammed Idris

Riyadh - Decypha: The CEO of Al Tayyar Travel Group Holding, Abdullah Nasser Al Dawood, said his company has no fears of the pound flotation and its effects on the group and its investments in Egypt.

The group provisions, allocated before the decision, has allowed it to avoid the negative impacts for the decision, Al Dawood told Mubasher, on the sidelines of the Third Saudi Conference for Investment and Securities, organized by the Riyadh Chamber.

Al Dawood also noted that the company did not report losses in Careem or Wadi, explaining that the losses in the financial statements are operational losses.

Regarding the sale of the group stake in Al Tayyar - Sudan, he indicated that the selling was at price than the book value, with the focus pointed towards big companies.