The Saudi Ground Services Company announces signing a contract renewal with Flyadeal Company to provide ground handling services (related party)
| Element List | Explanation |
|---|---|
| Introduction | The Saudi Ground Services Company announces that the Board of Directors has approved the renewal of the contract with Flyadeal Company on January 31, 2024. As per this contract, Saudi Ground Services Company will provide Flyadeal Company with ground handling services for domestic and international flights, including ramp services and passenger services, at airports all around the kingdom |
| Date of Announcement of the Award | 2024-01-31 Corresponding to 1445-07-19 |
| Contract Subject Matter | Provide Flayadeal with ground handling services at airports all around the kingdom |
| The Entity with Which the Contract was Signed | Flyadeal Company |
| Date of Signing the Contract | 2024-01-31 Corresponding to 1445-07-19 |
| Contract Value | The expected contract value within three years is around 800 million Riyals |
| Contract Details | Provide Flayadeal with ground handling services for domestic and international flights, including ramp and passenger services at airports all around the kingdom |
| Contract Duration | 3 years starting from 01/01/2024 to 31/12/2026 |
| Financial Impact and the Relevant Period | Sustainable company revenues during the contract period |
| Related Parties | Board Member: Capt. Fahd Hamzh Cynndy
Board Member: Mr. Nasser Farouk AlQawas Where the Board members hold executive positions in Saudia Airlines Group and its subsidiaries, which owns 100% of Flyadeal’s capital |
| Additional Information | Saudi Ground Services Company confirms that the contract is in the ordinary course of business and has no preferential treatment |
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