Al Tayyar settles loans worth over SAR 800 mln

30/05/2018 Argaam

 

Al Tayyar Travel Group Holding Co. has paid early installments worth SAR 307 million of long-term loans due in 2019-2020 as well as H1 2021, it said today in a bourse statement.

 

The firm also reduced short-term loans by over SAR 530 million, according to its financial statements for the period ending March 31.

 

Al Tayyar financed the early repayments from its own funds, as it received amounts owed by the government, which boosted its financial position and enhanced liquidity levels.

 

Financial impact of the loan repayment is expected to show on Q2 2018 results, it added.

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