Riyadh – Mubasher: The Saudi Airlines Catering Company (SACC) swung back to net losses of SAR 106.5 million in the third quarter (Q3) of 2020, against net profits of SAR 142 million in the prior-year quarter.

The turn to losses was ascribed to the disruption of business activities due to the coronavirus pandemic outbreak, according to a bourse filing on Wednesday.

Revenue for the quarter ended on 30 September 2020 shrank by 73.5% yearly to SAR 154.8 million.

During the January-September period of the year, the company incurred losses of SAR 234.7 million, compared to profits of SAR 362.6 million last year.