Saudi Catering inks SAR 308 mln deal with Saudia for new domestic lounge

30/12/2019 Argaam

 

Saudi Airlines Catering Co. (SACC) signed a contract on Dec. 29 with Saudi Arabian Airlines (Saudia) to design, construct and operate Alfursan domestic lounge at the new King Abdulaziz International Airport in Jeddah, it said in a statement to Tadawul on Monday.

 

The provisional value of the 10-year contract is estimated at SAR 308 million.

 

The company expects the contract to have a positive impact on its financial results as of Q1 2020. It will also contribute to increasing cash flow and ensuring business sustainability.

 

Saudia is one of the major shareholders in SACC and a related party, the statement noted.

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