Saudi Ground Services Company secures USD400M contract with Riyadh Aviation
Date
8/13/2024 7:47:03 AM
(MENAFN) On Monday, Saudi Ground Services Company announced that it has been awarded a substantial contract valued at 1.5 billion riyals (approximately USD399.65 million) by Riyadh Aviation, formally known as Aviation Services Company. This significant agreement underscores the company's strong presence in the aviation sector and its pivotal role in the operations of King Khalid International Airport in Riyadh. The contract specifically focuses on the provision of comprehensive ground handling services for all flights operated by Riyadh Airlines, covering essential services such as aircraft yard handling and passenger lounge services for both domestic and international routes.
In its statement to the Saudi Stock Exchange, Saudi Ground Services detailed that the contract is set to commence on the first of September and will span four and a half years. Additionally, the agreement includes an option to extend the contract for a further two years, potentially bringing the total duration to six and a half years. The total value of the contract, as highlighted by the company, reflects the full duration of this period, underscoring the long-term commitment and strategic partnership between Saudi Ground Services and Riyadh Aviation.
This contract marks a significant milestone for Saudi Ground Services, reinforcing its position as a leading provider of ground handling services in the Kingdom. The deal not only enhances the company’s operational footprint at one of the country’s major international airports but also aligns with its broader growth strategy in the aviation sector. As the aviation industry continues to recover and expand, this contract positions Saudi Ground Services to capitalize on future opportunities and further solidify its market leadership.
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