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Wataniya Air halts flights |
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Saturday, 19 March 2011 17:40 |
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KUWAIT: Kuwaiti luxury carrier Wataniya Airways said yesterday it was stopping its operations due to its financial situation and regional unrest.
"Given the current financial situation of the company ..., as well as the difficult political and security situation in the region, the board has decided to cease all Wataniya Airways operations," a company statement said. The statement also blamed a "lack of fair trade requirements in the local market" for its decision, without elaborating.
The small airline which started operations in 2009, catering for wealthy citizens of the Gulf Arab oil producers, said in November it was cutting its fleet and the number of its Middle East destinations as its financial performance had fallen short of expectations. "The board has decided to call a meeting of the company's shareholders as soon as possible to discuss the future course of the company," yesterday's statement said .
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