Catering renews contract to manage domestic business class lounge at Riyadh’s airport
Saudi Airlines Catering (6004.SE) announced that it has renewed its contract with its largest shareholder Saudi Airlines to manage and operate the business lounge located at domestic terminal five of Riyadh’s King Khalid International Airport (KKIA). The contract is for ten years, effective as of 9 October 2016 and is worth cSAR349.8mn. The contract is an extension of a previous agreement with Saudia that saw Catering manage and operate the lounge at domestic terminal three. (Tadawul) Saudi Airlines Catering Company: SAR80.91 as of 06 October 2016, Rating: Neutral, FV: SAR110.00 per share, MCap: USD1,769mn, CATERING AB / 6004.SE
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