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Oman airport terminates firm's USD310m IT contract
(MENAFN) Oman Airport said that it has made the decision to terminate an USD310 million IT contract that was given to the British contractor Ultra Electronics Holdings, Arabian Business reported.
Ultara, a global aerospace and security solutions company, said that the contract was awarded for the airport IT and systems integration in 2011,
adding that it will start discussions later this month with the airport to reach a settlement
Ultra said that as a result of the termination of the contract, there is likely to be a provision against contract balances in the 2014 results, although 2014 cash will not be affected.
Ultara, a global aerospace and security solutions company, said that the contract was awarded for the airport IT and systems integration in 2011,
adding that it will start discussions later this month with the airport to reach a settlement
Ultra said that as a result of the termination of the contract, there is likely to be a provision against contract balances in the 2014 results, although 2014 cash will not be affected.
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