News Business News Kuwait’s Wataniya Airways incurs heavy loss in 2009
| Kuwait’s Wataniya Airways incurs heavy loss in 2009 |
| News - Business News | |||
| Sunday, 21 March 2010 19:07 | |||
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KUWAIT CITY - Kuwait’s private carrier Wataniya Airways on Sunday posted a loss of 37.8 million dollars in 2009 compared to a shortfall of just 5.4 million dollars the previous year. Wataniya, which began travel operations a year ago, saw its assets rise to 275 million dollars last year compared to 269 million dollars in 2008, the company said in a statement posted on the Kuwait Stock Exchange website. Its shareholders’ equity dropped from 219 million dollars in 2008 to 182.3 million dollars last year. The airline, the oil-rich emirate’s first premium private carrier, operates four Airbus A-320 aircraft and is due to receive a fifth later this month. Two more will be delivered this year. Kuwait already has a national carrier, Kuwait Airways, which is expected to be privatised soon. Jazeera Airways, a low-fare private airline, is also Kuwaiti.- Khaleej Times
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