Logo of Abdulmohsen Alhokair Group for Tourism and Development
Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group) signed, on Dec. 19, 2023, a memorandum of understanding (MoU) with Newrest Group to establish a Saudi Arabia-based company operating in airline and inflight catering, airport lounges, as well as remote site and facility management services, according to a statement to Tadawul.
The MoU will be effective until Dec. 1, 2024, the statement added.
There is no relevant financial impact of the MoU at present, and any material updates will be duly revealed.
Incepted over 20 years ago, Newrest operates in 54 countries worldwide, with more than 40,000 employees, and annual revenues exceeding €2.4 billion.
The French company specializes in airline and train catering, airport lounges, catering services, airport retail and remote site catering services.
This partnership falls within the Alhokair Group’s endeavors to achieve its goals in accordance with the board strategy aimed at enhancing the group’s businesses across the Kingdom.
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