Riyadh – Mubasher: Saudi Airlines Catering Company has been awarded a contract worth SAR 85.01 million from Altanfeethi Company.
The Saudi listed company will provide catering and hospitality services at Altanfeethi terminals in the Kingdom's airports for three years starting from 15 March 2022, according to a recent bourse disclosure.
The agreement is expected to have a positive impact on Saudi Airlines Catering's financial results for the second quarter (Q2) of 2022. It is forecast to increase the company’s cash inflows while boosting its business position.
During the first nine months (9M) of 2021, Saudi Airlines Catering registered net losses worth SAR 32.10 million, compared to SAR 234.70 million in 9M-20.
