As a publicly traded company, it is inherent that Jazeera ensure sustainable profitability for the shareholders.
The market has been hit hard by overcapacity, low yields and weak load factors. Jazeera has been one of the fastest growing airlines in the region. It appears that the time has come to circle the wagons and take a more defensive position to ensure profitability, future growth and maintain the current route network. For the time being this will be done with six aircraft.
Jazeera also wholly owns Shahab Leasing which has secured a lease on at least 4 or so of the eleven aircraft on property. This once again will enhance bottom line profitabilty and put Jazeera in a postion grow when the market conditions permit.
It was really unfortunate to see good folks let go, but this is the airline business. In my career I have seen numerous layoffs, furloughs and once great companies go out of business.
Last edited by jimmyg; 27th May 2010 at 12:58.