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Saudi Airlines Catering to serve Saudi Ground Service’s sites in 4 cities

Saudi Airlines Catering to serve Saudi Ground Service’s sites in 4 cities
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CATERING
6004
3.32% 84.00 2.70
SGS
4031
2.89% 32.00 0.90

Riyadh – Mubasher: Saudi Airlines Catering Company has signed a two-year contract with Saudi Ground Service Company to provide catering services for work and residential sites of the latter inside and outside airports in Jeddah, Riyadh, Dammam, and Al Madinah Al Munawara.

The estimated value of the contract is SAR 51 million, according to a bourse disclosure on Wednesday.

The agreement was awarded and penned on 24 November 2021, Saudi Airlines Catering noted, adding that Saudia, which is the Saudi Arabian Airlines Establishment, is a related party in this deal.

Saudi Airlines Catering expected a positive impact on the income statement of the fourth quarter (Q4) of 2021. It added that the contract will likely enhance the company’s business sustainability through increasing cash flow.