Oct. 5—RIYADH — Saudi Airlines Catering Co. has rebranded as CATRION as it seeks to diversify its business.
Under its new identity, the company is poised to explore fresh opportunities in various sectors, including retail, healthcare, railways, and integrated facilities management, in addition to its well-established aviation catering portfolio, as stated in a press release.
Through this rebranding initiative, the company aims to attain a 50 percent revenue contribution from non-aviation ventures. These activities encompass laundry services, religious tourism hospitality, corporate hospitality, and sports/entertainment catering.
Presently, aviation catering accounts for 76 percent of the company's revenue.
Under its aviation operations, Saudi Airlines Catering Co., which is now CATRION, manages 37 airport lounges across Saudi Arabia and it served over 2 million guests in 2022.
Mohammed Abdulaziz Al-Sarhan, chairman of CATRION, said: "Our unwavering commitment to innovation has been the hallmark of the continued growth and success of CATRION. The new brand positioning signifies the bold direction we are taking and reflects the company's energy and dynamism at this exciting point in our evolution."
He added: "Looking ahead, we aspire to make significant inroads into new sectors to fulfil the mandate of Vision 2030 and contribute to the diversification of the Kingdom's economy."
The company's CEO Wajdy Al-Ghabban emphasized that the new brand name will facilitate the company's diversification into Saudi Arabia's emerging growth industries.
"For over 40 years, CATRION has been elevating customer experiences through its commitment to excellence, quality, and attention to detail while continuously diversifying its operations into the Kingdom's new growth industries," said Al-Ghabban.
He added: "The new identity will further expedite this growth trajectory and accelerate the company's movement into the future as a proud Saudi brand for the world."
In August, CATRION reported a net profit of SR120.9 million ($32.24 million) for the first half of this year, marking a 53 percent increase compared to the same period last year.
In a statement to Tadawul, the company attributed the rise in profit to improved sales, increased in-flight operations, and stronger non-aviation business operations.
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