| Element List | Explanation |
|---|---|
| Introduction | Saudi Ground Services announces the conclusion of a contract with Saudia Airlines (Related party) on 29-06-2021G corresponding 19-11-1442H, for a period of 5 years agreement (three years with an option to renew for another two years). Starting from 01-04-2021G, until 03-31-2026G, according to this contract, the Saudi Ground Services Company provides to Saudi Airlines, domestics, and international flights the ground handling services, including ramp services and passenger services at all airports around the Kingdom. The estimated value of the contract for the 5 years is 5.9 SAR billion compared to the size of operations for the year 2019G, and the company expects that the concluded contract will contribute to the sustainability of the company's business, increase its cash flow, enhance its business and positively affect its financial results as of the second quarter of 2021G. |
| Date of Announcement of the Award | 2021-04-01 Corresponding to 1442-08-19 |
| Contract Subject Matter | Providing ground handling services for Saudi Airlines around Kingdom's airports |
| Date of Signing the Contract | 2021-06-29 Corresponding to 1442-11-19 |
| Contract Value | SAR 5.9 Billion |
| Contract Details | The Saudi Ground Services Company provides to Saudi Airlines domestic and international flights with ground handling services, including ramp services and passenger services at all airports around the Kingdom. |
| Contract Duration | Three years with an option to renew for another two years. |
| Financial Impact and the Relevant Period | Starting from the second quarter of 2021G. |
| Related Parties | Mr. Con Korfiatis (Non-executive Board Member) Indirect interest. |
| Additional Information | NA |
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