Mubasher TV
Contact Us Advertising   العربية

Afghanistan Civil Aviation terminates contract with Agility's unit

Afghanistan Civil Aviation terminates contract with Agility's unit
NAS reserves all its rights to object to the termination decision
Agility
AGLTY
7.42% 666.00 46.00

Mubasher: The Afghanistan Civil Aviation Authority has terminated a contract with the subsidiary of Agility Public Warehousing, National Aviation Services (NAS), as of 4 November 2020.

On 8 October 2013, NAS was awarded a contract to offer comprehensive ground handling airport services at Kabul, Kandahar, and Herat International Airports in Afghanistan for ten years, according to Agility's disclosure to the Dubai Financial Market (DFM) and Boursa Kuwait on Monday.

NAS reserves all its rights to object to the termination decision before the competent authorities and institutions.

Meanwhile, Agility will lose revenue from the contract estimated at about $13 million (KWD 4 million) per year.

It is noteworthy to mention that in the first half (H1) of 2020, the company's net profits plunged by 61.3% to KWD 16.21 million, compared to KWD 41.89 million in the year-ago period.