PPRuNe Forums - View Single Post - wataniya, going belly up.
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Old 1st Dec 2010, 03:30
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notrocketscience
 
Join Date: Jul 2007
Location: Kuwait
Age: 76
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BOB-KW is correct: there are too many seats chasing too few b**s in Kuwait: 3 local carriers for a population of just over 1 million locals and western expats plus a couple of million arab and eastern expats. Jazeera flirted with bankruptcy and had to be re-capitalised somewhat urgently: Kuwait Airways losing money on a daily basis with almost $100 million owed to suppliers, and needing facilities from its bankers merely to pay salaries: and now Wataniya cutting back. It should be interesting to see how things shape up over the coming couple of years if they go ahead and privatise KU, as has been promised. I think we will see the emergence of one long-haul full-service carrier plus one regional low-cost operator. That's all the market will take.
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