CATRION Catering Holding Co. announces signing of a Memorandum of Understanding with Mallaghan Engineering Ltd
| Element List | Explanation |
|---|---|
| Introduction | CATRION Catering Holding Company announces the signing of a memorandum of understanding agreement on July 4, 2024 in the city of Belfast, Northern Ireland, with Mallaghan Engineering Ltd, a leading manufacturer of aviation equipment, in order to purchase eighty-five (85) highloader dedicated to inflight catering services, for over a period of four years (2024 to 2027). This is part of CATRION's targeted growth strategy, aiming to strengthen and renew its fleet.
This MOU also constitutes a crucial investment step aimed at strengthening CATRION's operational capacity and achieving its future objectives by increasing its fleet capacity and preparing to meet the expected growth of the aviation sector in line with the Kingdom's Vision 2030, which aims to increase passenger numbers to 330 million passengers per year by 2030. The company's fleet is expected to reach (205) highloader by 2027. For this, CATRION Catering Holding Company seeks to achieve the highest standards for its fleet, which improves the experience of its services to be in line with the aspirations of its customers and travelers, guaranteeing efficiency operational, achieving sustainability, and reducing environmental impact. |
| Memorandum Signing Date | 2024-07-04 Corresponding to 1445-12-28 |
| Counterparty | Mallaghan Engineering Ltd |
| Memorandum Subject | In order to purchase eighty-five (85) highloader dedicated to inflight catering services |
| Memorandum Duration | Four years |
| Related Parties | NA |
| Financial Impact | The financial impact cannot be determined |
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