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NAS Air losses may cause its closure or scale back of operations

5-May-2011 12:48 PM

National Air Services CEO Suleiman Al Hamdan, upon the release of the NAS Air's 1Q2011 financial results, stated oil prices rose 25% year-on-year in the quarter, with the carrier also being impact by political unrest in the region (Bloomberg, 04-May-201). NAS Air’s accumulated losses may cause its closure, a halt to its operations, or as many as 1000 job reductions, which may exacerbate Saudi Arabia’s air transport difficulties, Mr Hamdan said.