Riyadh – Mubasher: Al Tayyar Travel Group Holding on Thursday received a note from the Saudi Ministry of Education to extend a contract to provide travel services under “The Custodian of the Two Holy Mosques” programme.
The extension will be for another four hijri months starting 1 Jumada Al-Okhra 1438, or 28 February 2017, according to a bourse filing.
Revenues from previous contracts have so far represented 30% of revenues for each of 2014 and 2015 and 32% of revenues for 2016, Al Tayyar revealed.
It added that the deal has been renewed with the same terms and conditions as the previous contract.
Al Tayyar’s stock dropped 3.41% to SAR 32 per share by 12:58pm Saudi time.
The travel company last denied news that it signed agreements with Indonesian hajj, umra, and tourism unions, and noted that it merely held meetings with representatives from the Islamic country.
