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FINANCIAL NEWS
UAE-based RAK Airways suspends its flights
02 Jan 2014
(MENAFN) RAK Airways, the carrier based in the emirate of Ras Al Khaimah, has announced the suspending of all its flights with immediate effect after suffering financial constraints, according to Arabian Business.
The UAE airline has suffered decline in services as costs were increased, in addition to the regional instability.
RAK Airways said: “The decision for suspending operations was taken following increased pressures on the carrier”s performance due to continuous market conditions, increased operating costs and the impact of the regional political instability on the overall aviation industry.”
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BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
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