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17-Apr-2016

Saudi Airlines Catering signs two contracts worth SAR81 million with Saudia's Al Bayraq

Saudi Airlines Catering (6004.SE) announced that it had signed two contractual agreements with Al Bayraq Airlines, Saudia's charter airline. Catering will provide in-flight catering services (contract valued at SAR72 million), as well as sky sales (cSAR9 million) for Al Bayraq’s business class flights between Jeddah and Riyadh. The term of the two contracts is three  years effective 1 May 2016 until 30 April 2019 and their impact should be seen starting 2Q2016. (Company disclosure)   Saudi Airlines Catering Company: SAR117.00 as of 14 April 2016, Rating: Buy, FV: SAR150.00 per share, MCap: USD2,558 million, CATERING AB / 6004.SE

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