Aviation sector represents 99% of CATRION market share: CEO

Wajdy Al-Ghabban, CEO of Saudi Airlines Catering Co.

Wajdy Al-Ghabban, CEO of Saudi Airlines Catering Co. (CATRION), said the aviation sector dominates 99% of the company's market share, followed by the first-class and passenger lounges sectors, then other businesses.

Al-Ghabban told Argaam on the sidelines of launching the new identity CATRION that the company is working to develop the construction facilities sector, which includes the industrial laundries and remote areas as well as the Hajj and Umrah sectors.

He added that the sector faces great momentum in the Kingdom.

The company's new strategy aims to keep the current strategy while diversifying the income sources, the top executive said, adding that this will contribute to balancing the income sources to make up for 50% of the non-aviation sector.

The tourism season had a positive impact on the company’s resources, especially with regard to airlines. This is in addition to the events held in the Kingdom, which impacted, directly or indirectly, the company, including Dakar Rally.

The aviation sector accounted for 70% of the firm's market share in 2022, Al-Ghabban said, noting that the Kingdom's strategy aims to double the number of passengers from 110 million to 330 million. This, accordingly, represents an additional challenge for CATRION through increasing its business in the non-aviation sector.

In addition to the contract signed with Flyadeal, the company signed another major deal with Red Sea Co. for SAR 10 billion. The 20-year contract includes construction, operation, and then transportation, which represents one of the company's new trends. The firm also has a plan for similar contracts.

CATRION will work to launch the concerts and conferences sector, which will better serve a large number of customers, the CEO concluded.