Saudi Airlines Catering Co. reported a marginal increase in Q3 2020 revenue, in line with the gradual resumption of domestic flights, CEO Wajdi Al-Ghabban told Argaam in a phone call.
“The resurgence of international flights in early 2021 will reflect positively on the company’s revenue,” Al-Ghabban said.
Saudi Catering has diversified its revenue sources and significantly reduced fixed and variable costs after negotiations with suppliers and reengineering of internal measures and business model to alleviate the direct impact of the coronavirus pandemic, which hit the aviation industry’s profitability and revenue.
The catering service provider is revisiting its strategy to generate higher returns for shareholders through efficient investment. These plans will ensure sustainable returns that serve the interest of the shareholders.
Moreover, Al-Ghabban added that the company’s catering agreements with other airlines and authorities are renewable. The Dakar Rally partnership agreement was extended for the second year, under which the firm provides catering services all through the rally in the Kingdom.
Moreover, Al-Ghabban added that the company’s catering agreements with other airlines and authorities are renewable. The Dakar Rally partnership agreement was extended for the second year, under which the firm provides catering services throughout the rally in the Kingdom.
“Saudi Catering is also looking forward to providing high-quality services to the international sports events hosted by the Kingdom,” Al-Ghaddan concluded.
The company turned to a net loss after Zakat and tax of SAR 234.7 million in the first nine months of 2020, compared to a net profit of SAR 362.6 million in the same period a year earlier, Argaam reported.
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