Nasair expects to be profitable in 2011
Nasair stated it expects to be profitable in 2011 (Gulf News, 08-Dec-2010). The carrier added that it plans to add a new destination per month as part of its aggressive expansion plans (Gulf News, 08-Dec-2010). The airline recently announced new services linking Riyadh, Jeddah and Dubai (10 times weekly), with the carrier planning to increase frequency to 18 times weekly and add a link to Dammam in 2011. The carrier plans to add at least three new international routes in 1Q2011.
Nasair: "The growing commercial ties between the UAE and Saudi Arabia have encouraged Nasair to expand its destinations in the UAE and we have now three routes to and from Dubai, Abu Dhabi and Sharjah connecting three main cities in Saudi Arabia, Riyadh, Jeddah and Madinah. Due to issues such as the fact that our principal competitors enjoy significant reductions in cost of fuel, ongoing infrastructure and supplier issues and difficulty in obtaining visas into the kingdom it makes it more difficult for us to service this area and this market. But the key thing for us is that the success of the Nasair airline is not contingent on us acquiring regulatory reform. We have a solid business plan on a number of international groups and we are continuing our expansion," Simon Stewart, CEO of Nasair. Source: Gulf News, 08-Dec-2010.
Nasair: "Between 2008 and 2009, passenger and revenue-wise, we grew about 100 per cent. Between 2009 to 2010 we grew another 75 per cent and for next year we're looking at another 35 per cent. Last year and this year we were not profitable, but next year we will be," Dr Maria Haine, CCO. Source: Gulf News, 08-Dec-2010.