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FINANCIAL NEWS
Kuwaiti Wataniya Airways closes down
19 Mar 2011
(MENAFN) Wataniya Airways’ chief executive, George Cooper, stated that the Kuwaiti carrier has shut down due to a lack of fair-trade requirements in local markets, regional instability, and a tough financial situation, reported The National.
Cooper also said that the airline it had no choice but to shut down due to the decrease in travel in the Middle East caused by political uprisings taking place in many countries, along with increasing jet fuel prices.
The company started out in 2009, facing local competition from two carriers, Al Jazeera Airways and Kuwait Airways. However, those two airlines were not Wataniya’s only competitors, as Emirates Airline, Qatar Airways, and Etihad Airways proved to be too hard to keep up with.
It is worth noting that the shutdown would affect suppliers such as Wataniya’s general sales agent in the Emirates, Dubai’s Planet Group, as well as Kuwait’s AerVenture and Alafco.
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