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FINANCIAL NEWS
Jazeera scraps 25 aircraft orders
07 Apr 2011
(MENAFN) Jazeera Airways chairman, Marwan Boodai, said that the carrier scrapped its order for buying twenty five Airbus A320 jets at a list price of USD2.12 billion, reported The National.
The chairman said that the cancellation comes as market observations show that Kuwaiti carriers that fly the same routes as Al Jazeera had their flights occupied at only fifty percent.
Boodai said that the overcapacity in the market calls for a re-estimation of Al Jazeera’s previous expansion plans.
It is worth noting that earlier this year, Kuwaiti Wataniya Airways had shut down its offices citing strong competition and unrest in the Arab region.
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