Wataniya Airways announced yesterday that it has stopped its flights and will not fly anymore due to their financial circumstances. Late last year, the airline tried a last ditch effort of cutting some of its flights, however, their efforts were fruitless. (Please click here to read our article in Decmber 2010 discussing Wataniya Airways’ sitiuation and how we predicted the carrier’s eventual demise).
Wataniya started operations in the worst of times, just before the global crisis. It attempted to brand itself as a luixury carrier, but the consumers wouldn’t budge. Their strategy of targeting Europe didn’t pay off as these routes are not as much demanded as other routes in the region. Many people would argue that the company was established to become the holding company that would eventually buy Kuwait Airways after its privitization, which may explain their weak strategies. The company called for a Shareholders’ meeting to discuss their options, and the company requested that the Kuwait Stock Exchange stop trading its stock
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