Catering signs SAR44mn contract to manage Al Fursan lounge at Cairo Airport
Saudi Airlines Catering (6004.SE) announced that it has signed a contract with its largest shareholder, Saudi Airlines (Saudia), to prepare, operate, and manage Al Fursan lounge located at Cairo International Airport in Egypt. The contract term is five years, effective as of 12 February 2017 and is worth cSAR44mn. The contract is expected to affect the company’s financials as of 2Q17. (Tadawul) Saudi Airlines Catering Company: SAR88.23 as of 12 Feb. 2017, Rating: Neutral, TP: SAR105.00/share, MCap: USD1,929mn, CATERING AB/6004.SE
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