Riyadh – Mubasher: CATRION Catering Holding Company has signed a memorandum of understanding (MoU) with North Ireland-based Mallaghan Engineering company to buy 85 high loader for inflight catering services.
The deal is effective between 2024 and 2027, according to a bourse filing.
It comes in line with CATRION's growth strategy, which includes strengthening and renewing and its fleet.
Signed on 4 July 2024, the MOU represents a crucial investment step for CATRION, enhancing its operational capacity and aligning with the Kingdom's Vision 2030 to increase passenger numbers to 330 million annually by 2030. The company's fleet is expected to reach 205 high loaders by 2027.
CATRION aims to achieve the highest standards for its fleet, improving service experience, operational efficiency, sustainability, and reducing environmental impact.
The company noted that the financial impact of the deal cannot be determined.
In the first quarter (Q1) of 2024, CATRION Catering Holding posted a net profit of SAR 71.22 million, an annual leap of 24.68% from SAR 57.12 million.
