Saudi Catering renews SAR 350 mln deal to operate airport lounges

08/10/2016 Argaam

Saudi Airlines Catering Co. has renewed its contract on Thursday with Saudi Arabian Airlines to operate and manage business-class lounges at Riyadh’s King Khaled International Airport, the company said in a statement to Tadawul.

 

The ten-year deal, which has an estimated value of SAR 349.8 million, will come into effect on October 9.

 

The catering company added that it expects the contract to contribute to its sustainability and enhance cash flows.

 

The contract will be submitted to the upcoming general assembly meeting for approval.

 

The state-owned airline is a major shareholder and a related party in SACC. 

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