Riyadh – Mubasher: The Saudi Airlines Catering Company (SACC) turned to net losses of SAR 143.8 million over the second quarter (Q2) ending 30 June 2020, versus net profits of SAR 117.1 million in the same quarter a year earlier.

The company ascribed the move to losses primarily to the disruption of business activities due to the COVID-19 pandemic, according to a stock exchange filing on Thursday.

The epidemic resulted in lower sales by 79.2%, higher provision for doubtful debts versus receivables by SAR 18.1 million, whereas fixed costs remained unchanged.

Revenue contracted by 79.23% to reach SAR 113.1 million in the April-June period of the year, compared with SAR 544.5 million in the corresponding period in 2019.