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nasair to increase traffic by 75% in 2010 and break even in 2011

5-May-2010 11:38 AM

nasair CCO, Maria Angelika Hanne, stated its expects to break even in 2011 and increase passenger traffic by 75% year-on-year to 2.6 million in 2010 (Arabian Business, 04-May-2010). In Oct-2009, the carrier stated it expected to break even in 2010. nasair is increasing operations to the Indian market this year, with Mumbai service already launched and Kochi, Kozhikode and Delhi services due to commence between Jun-2010 and Aug-2010. nasair plans to finalise the details of its private placement planned for 2010 within weeks for which JPMorgan Chase will advise on fund-raising options.

nasair:We made losses in our first year and last year we reduced our losses by 50 percent. I am confident we will reach it break even next year,” Maria Angelika Hanne, CCO. Source: Arabian Business, 04-May-2010.