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Al Tayyar repays SAR 800m tranches of long, short-term loans

Al Tayyar repays SAR 800m tranches of long, short-term loans
Al Tayyar noted that it had financed the loan repayments from its self-financing sources
SEERA
1810
3.04% 18.98 0.56

Riyadh – Mubasher: Saudi Arabia-based Al Tayyar Travel Group has repaid some tranches of its long-term loans which worth SAR 307 million. The tranches of the SAR 307 million loans mature in 2019, 2020, and in the first half of 2021.

The Kingdom's largest travel company has also trimmed the short-term loans with more than SAR 530 million, according to a statement on Wednesday to the Saudi Stock Exchange (Tadawul).

Al Tayyar further noted that it had financed the loan repayments from its self-financing sources, and the repayment financial impact is to appear in its second-quarter financial.

Al Tayyar last reported a 37% year-on-year decrease in profits, registering SAR 86 million in Q1-18, down from SAR 137 million in the same period a year earlier.

By 10:29 am KSA time, the stock rose 2.17% to SAR 25.95.