6-Oct-2009 1:01 PM

Wataniya Airways maintains breakeven target for 2011

Wataniya Airways stated it will maintain its breakeven target for 2011, despite the effects of the global economic crisis (Emirates Business 24/7, 04-Oct-2009). The carrier has no plans to change its “premium” positioning and is expecting to achieve its target of 50% load factor by the end of the year. Wataniya has not provided forecasts for 2H2009. Wataniya stated it does not plan to launch an IPO on the Dubai Financial Market, adding “there is no need for us to raise any capital as of now” (Emirates Business 24/7, 04-Oct-2009).

Wataniya Airways: "We are not publicly projecting our forecast for the second half of 2009. We are pretty cautious about the second half. And there have been no significant changes in the circumstances we are operating in right now,” George Cooper, CEO. Source: Emirates Business 24/7, 04-Oct-2009.

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