Catering signs SAR501mn inflight catering contract with FlyNas
Saudi Airlines Catering Co. (6004.SE) announced it has signed a five-year contract with budget carrier FlyNas to provide inflight catering services and some logistical services, in addition to selling onboard food, beverages and other supplies, for a provisional value of SAR501mn. The deal is expected to contribute positively to the company’s results starting 4Q17.
Saudi Airlines Catering Company: SAR76.66 as of 23 Nov. 2017, Rating: Neutral, TP: SAR105.00/share, MCap: USD1,676mn, CATERING AB/6004.SE
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