STC net income for Q1 2018 increases by 2.1%

Nasser S. Alnasser, acting CEO of Saudi Telecom Company
Updated 26 April 2018
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STC net income for Q1 2018 increases by 2.1%

The Saudi Telecom Company (STC) has announced its preliminary financial results for the period ending March 31.

The revenue from services for the first quarter reached SR12.4 million — a decrease of 1.1 percent compared with the corresponding quarter last year. The gross profit for 1Q reached SR6.997 million — an increase of 1.05 percent.

The earnings before interest, taxes, zakat, depreciation and amortization (EBITDA) for the first quarter reached SR4,644 million — an increase of 2.1 percent compared with the corresponding quarter last year. Nasser S. Alnasser, acting CEO of STC, said the increase in net income by 2.1 percent for 1Q of 2018 was a result of the “continued comprehensive program to improve operational efficiency and cost-optimization initiatives.” 


Dhaka-bound passengers from Jeddah reach home

Updated 24 May 2018
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Dhaka-bound passengers from Jeddah reach home

  • All 141 passengers and 10 crew members onboard were evacuated safely, and were cared for by the airline’s ground operations team and airport personnel.
Saudi Arabian Airlines (Saudia), the national flag carrier of the Kingdom, greeted passengers returning to Dhaka following a brief stay in Jeddah due to an irregular occurrence on one of its aircraft.
Flight SV3818 operating from Madinah to Dhaka on Monday diverted to Jeddah for an emergency landing due to nose gear malfunction, which became apparent mid-flight. The aircraft was an Airbus A330-200, wet-leased to Saudia.
All 141 passengers and 10 crew members onboard were evacuated safely, and were cared for by the airline’s ground operations team and airport personnel.
Upon concluding all safety and health checks, the passengers were cleared to fly the next day. The Saudia ground operations team conducted all formalities and clearances in order for the guests to fly to Dhaka at 7:30 p.m. Jeddah local time on Tuesday.
Greeting the guests at King Abdulaziz International Airport in Jeddah prior to departure was Director General of Saudi Arabian Airlines, Saleh bin Nasser Al-Jasser, along with representatives from the airline, civil aviation authority and crew.
“Saudia thanks the onboard crew, General Authority of Civil Aviation, and King Abdul Aziz International Airport control for providing their cohesive, full support and cooperation during the event,” the airline said in a statement.
The flight arrived in Dhaka at 4:48 a.m. Dhaka time on Wednesday where they were met by the Saudia country manager and the station staff.
Currently in its 73rd year of operations, Saudia is a member of the International Air Transport Association (IATA) and the Arab Air Carriers Organization (AACO).
The airline currently flies to 90 destinations across four continents with a fleet of 147 narrow and widebody aircraft.
At the 2017 Skytrax Awards held at the Paris Air Show, Saudia was awarded the “World’s Most Improved Airline” of the year.