Al Tayyar extends service contract with Ministry of Education for four months
Al Tayyar Group [1810.SE] announced that it has extended the ticket service contract with the Ministry of Education for four months as of 28 February 2017. The extension will be based on the same terms of the original contract, under which the company offers ticket reservations to students enrolled in the KSA's scholarship program. According to Al Tayyar, the service contract represented c32% of the company's total revenue in 2016. The previous renewal was for a three year term (signed on 1 April 2014). The extension of the contract will start impacting the company's financial results as of the date of extension.
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