Al Tayyar Travel Group said Saudi Arabia’s Ministry of Education has extended the company’s contract to provide travel services for students and ministry employees by four months as of Feb. 28, 2017.
The contract will be renewed under the same terms and provisions, provided that ticket fees will be equal to the Saudi Arabian Airlines (Saudia) ticket to the same destination at the same time, Al Tayyar said in a statement to Tadawul.
Under the contract, the Saudi-listed company offers ticket reservations to students enrolled in the kingdom's scholarship program.
Financial impact will start from the date of the contract’s renewal, Al Tayyar said.
The contract accounted for 32 percent of Al Tayyar’s revenue in 2016, and 30 percent in both 2014 and 2015.
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