Seera implements new policies to manage lower tourism demand

Seera Holding Group’s travel and tourism segment witnessed a sharp decline in demand amid the government’s precautionary measures to contain the COVID-19 outbreak, including temporary suspension of Hajj and Umrah visas as well as local and international travel restrictions.

The company said in a bourse statement that it implemented several policies to manage the current situation, including reduction in operating expenses to maintain the firm’s long-term competitiveness and review allocated budgets for each segment.

The group indicated that it has a strong cash flow and balance to strengthen the company’s competitive position once the precautionary measures are lifted.

Seera is also working with its suppliers, mainly hotels and airlines, to ensure that the group’s clients are duly assisted in case they wish to make changes to their travel plans.

The company will continue to monitor the situation and take necessary measures in line with the current conditions, Seera said, noting that it is presently difficult to assess the financial impact of these decisions.

Any material developments will be disclosed in due course, the statement added.