Saudi Airlines Catering inks SAR 500 mln deal with Saudia

12/02/2019 Argaam

 

Saudi Airlines Catering Co. on Tuesday has signed a contract with Saudi Arabian Airlines (Saudia) to design, build and operate Alfursan International lounge at Jeddah’s new King Abdulaziz International Airport.

 

The ten-year contract will come into effect upon the lounge launch, Saudi Airlines Catering said in a bourse statement.

 

The deal provisional value is estimated at SAR 500 million.

 

“Saudi Airlines Catering expects a positive contribution to be shown in fourth quarter 2019, which will boost the business sustainability by increasing the cash flow and enhancing its business relationship with Saudi Arabian Airlines,” the company added.

 

The deal is yet to be approved at the upcoming general assembly meeting.

 

The national carrier is a major shareholder of Saudi Airlines Catering. 

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