Riyadh –  Saudi Airlines Catering Company’s accumulated losses plunged to SAR 158.16 million, representing 19.29% of the SAR 820 million capital, of 31 March 2022.

The company noted that the decrease in the accumulated losses was attributed to the gradual resumption of flights amid easing COVID-19 restrictions, according to a bourse filing.

At the end of December 2021, the listed firm’s accumulated losses accounted for 23.60% of capital.

In the first quarter (Q1) of 2022, Saudi Airlines Catering turned profitable, logging net profits after Zakat and tax of SAR 35.30 million, versus net losses of SAR 30 million in Q1-21.

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