Catherion sign a lease contract to provide aircraft supply services

Catheron Holding Company (Catheron) signed yesterday a lease contract with Jeddah Airports Company (a limited liability company).
The company said in a statement on Saudi Arabia’s circulation: that under the contract, Catricion rented a site for the purpose of providing its services and activities at King Abdulaziz International Airport in Jeddah.
According to the company, the contract period is 15 years, and with a rental value of a minimum guaranteed or changing fee of 3.5 % that is escalating annually until it reaches 5.5 % of the total revenue of the aircraft supply services provided by the leased eye, whichever is higher.
This contract comes within the efforts of Catronon to support the plans and principles of sustainability that it is working on, in line with the continuous increase in the movement of passengers and air flights, and to activate the company’s entrepreneurial role in the aviation services industry in order to achieve the targets of the Kingdom’s 2030 vision.
She explained that the value of the contract: a minimum guaranteed or changing fee of 3.5% escalating annually until it reaches 5.5% of the total revenue of the aircraft supply services provided by the leased property, whichever is higher.