Kuwait Local Time

Latest Kuwait News

Nearly 600 workers laid-off by Wataniya Airways

The Kuwait National Airways (KNA), also known as Wataniya Airways has laid off atleast 600 workers and has terminated aircraft lease contracts.

The operations of the carrier will be resumed depending on whether its shareholders approve a planned KD15mn capital growth. The capital hike will require five to six months for completion, and in the meantime, it will be a burden on airline’s budget to support the 600 employees and seven aircraft, without being sure if it will operate or not, says Abdulsalam Al Bahar, Chairman and Managing Director of Wataniya.

Wataniya has suspended its operations due to unfair competition and citing other causes including the fact that the launch of its operations coincided with onset of global financial crisis. The shares of Wataniya Airways are trading down 10.4% in a rather negative market.

comments powered by Disqus

Recent Articles

New rule mandates recruitment of Kuwaitis in private sector

Issuance and renewal of driving licenses to go online soon

New rule mandates salary of KD500 or more for visit visas

Longest bridge in the world to be ready this year

Slashing of expat numbers likely to hit economic growth

New decision to stop expat transfer if job title does not match degree

Parents and In-laws allowed three months stay on visit visa

Indian Government defers pre-departure registration for ECNR passport holders

Kuwait plans to slash expat numbers

Kuwait CSC plans to replace expats with nationals in 3140 jobs