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Saudi Airlines Catering Co. announces the renewal of its contract with Flyadeal Company
| Element List | Explanation |
|---|---|
| Introduction | Saudi Airlines Catering Company (SACC) announces the renewal of its contract with Flyadeal company, a subsidiary of the Saudi Arabian Airlines Est. For the purpose of performing inflight catering services and selling onboard food, beverage, and other supplies, for a contract term of four years. The contract shall have a provisional value of SAR one hundred and twenty million (SAR 120,000,000). SACC expects a positive contribution to be shown in the third quarter of 2023, which will boost the business sustainability by increasing the company's cash flow, and by enhancing the company's business relationship with the companies owned by and under Saudi Arabian Airlines Est. |
| Date of Announcement of the Award | 2023-07-03 Corresponding to 1444-12-15 |
| Contract Subject Matter | The purpose of performing inflight catering services and selling onboard food, beverage, and other supplies. |
| Date of Signing the Contract | 2023-08-02 Corresponding to 1445-01-15 |
| Contract Value | The contract shall have a provisional value of SAR one hundred and twenty million (SAR 120,000,000) |
| Contract Details | - The purpose of performing inflight catering services and selling onboard food, beverage, and other supplies. - The contract term is four years. - The contract shall have a provisional value of SAR one hundred and twenty million (SAR 120,000,000), |
| Contract Duration | The contract term is four years. |
| Financial Impact and the Relevant Period | SACC expects a positive contribution to be shown in its accounts by the Third quarter of 2023 |
| Related Parties | The Board of Directors Mr. Fahad Abdullah Moussa |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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