CATRION signs five-year agreement with Riyadh Air
CATRION and Riyadh Air signing a strategic agreement
CATRION Catering Holding Company has announced the signing of a strategic five-year contract with Riyadh Air. Under this agreement, CATRION Catering Holding Company will provide Riyadh Air's domestic and international flights with meals, beverages and a range of other support services.
In a statement on Tadawul's website, the company expressed its expectation that this contract will positively impact its financial results starting from the end of Q4 of this year. The company anticipates significant benefits from the projected growth in Riyadh Air's fleet, flights and passenger numbers, which will enhance its business operations, increase cash flows and diversify income sources. Additionally, this contract will contribute to the sustainability of the company's business and further increase cash flows, as the company will benefit from the launch of Riyadh Air flights, the anticipated growth of Riyadh Air's fleet, and the expected increase in its flights and passengers. This contract aligns with CATRION Catering Holding Company's efforts to support sustainability plans and principles, activate its leading role in the aviation industry and related services, and strengthen its cooperation with Riyadh Air to achieve the goals of Saudi Vision 2030.
Wajdy Moh'd Al-Ghabban, CEO of CATRION Catering Holding Company, said, "We are extremely proud of our strategic partnership with Riyadh Air. This partnership reflects our company's expertise, efficiency, customer trust, and distinguished services, which have kept pace with continuous development over the past decades. We are committed to continuing our series of successes and progress by providing innovative products, effectively investing resources, and entering new markets to benefit our customers, shareholders, and employees."
He added, "The company is fully prepared to provide services at the highest global standards in line with the plans and visions of Riyadh Air. Our company has experienced significant growth, becoming the leading company and preferred partner in the field of aircraft catering. We currently provide catering services to more than 100 local and international airlines at airports across Saudi Arabia."
Adam Boukadida, Chief Financial Officer of Riyadh Air, also commented: "Our food and beverage offering, both in the air and on the ground, is hugely important for our guests and we aim to set a high benchmark for everyone who travels with Riyadh Air. By selecting CATRION, a company that shares our passion for quality and excellence, it strengthens our commitment to delivering an unparalleled travel experience for our passengers."
