Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar - RAK Airline Stops Operations  Join our daily free Newsletter

MENAFN - Qatar News Agency - 02/01/2014

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Qatar News Agency) Ras Al Khaimah's only airline has suspended all of its flights for the second time in five years but insists it will fly again.

RAK Airways, which was launched in 2006, stopped operations in 2009 amid a global downturn but resumed service a year later

Starting yesterday, it again suspended all operations until further notice

"The decision for suspending operations was taken following increased pressures on the carrier's performance due to continuous market conditions, increased operating costs, and the impact of the regional political instability on the overall aviation industry," the English daily "The National" quoted the RAK Airways board of directors

The StrategicAero Research.com chief analyst Saj Ahmad put a lack of clear strategy as the reason behind the airline's shutdown

"When it restarted operations in 2010 after its last suspension, the airline stated that it was not going to be a full or low-cost airline that indicated immediately that its strategy was in jeopardy," he told the paper

"You can't be a halfway house when down the road in Sharjah you have Air Arabia, Dubai has Emirates and flydubai, and Abu Dhabi has Etihad four of the world's biggest and fastest growing airlines." It carried 300,000 passengers in 2012, and improved the numbers by 40% in 2013, said Elizabeth Percy, the corporate communications director for RAK Department of Civil Aviation, RAK Airport and RAK Airways

"It has only suspended operations to take the time to study the opportunities at hand in terms of investors and flying again," she said.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help