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5-May-2011 12:48 PM

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

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.