Riyadh – Mubasher: Saudi Airlines Catering Company has renewed its contract with Flynas Company to provide logistic and inflight catering services and sell onboard food, beverage, and other supplies.
The value of the four-year contract is estimated at SAR 240 million, according to a bourse filing on Thursday.
The contract renewal is forecast to reflect positively on Saudi Airlines Catering’s financials starting as of the fourth quarter (Q4) of 2022, boosting business sustainability by increasing the company's cash flow and enhancing its business.
During the first half (H1) of 2022, Saudi Airlines Catering turned to net profits after Zakat and tax of SAR 78.80 million, versus net losses of SAR 47.50 million in H1-21.
