Kuwait Airways insists on claims against Iraqi Airways

Kuwait Airways will insist on its claims against Iraqi Airways (AK News, 01-Jun-2011). On 31-May-2011, Iraqi Airways announced to appeal against a court decision in Jordan to freeze the company's assets of USD1.5 million in Amman. This decision was the result of a lawsuit by Kuwait Airways. The Iraqi Ministry of Transport stated "We want to go back to the courts and see if we can lift the asset freeze."

You may also be interested in the following articles...

• Jazeera Airways and Air Arabia stick to their models and report double-digit increases in profits
  11-May-2012

  Business is booming for LCCs in the Middle East. The two oldest low-cost airlines in the region – Air Arabia and Jazeera Airways – have both reported profitable first quarters, as the regional political environment cools and oil prices begin to trend back from their highs earlier in the year.

  Both airlines have positive outlooks for this year. Jazeera Airways just reported its seventh consecutive quarterly profit – a record run of profitability for the airline – and aims to continue the success with its new strategic management plan (STAMP). Air Arabia achieved a double-digit increase in profit during the first quarter and the carrier plans to continue to enter new markets and launch new business ventures this year.

• Oman Air reports record passengers, but also record losses
  19-Apr-2012

  2011 was another expensive year for Oman Air. The carrier reported a record loss of OMR110 million (USD286 million) in 2011, a year that saw the carrier dealing with ballooning oil prices, regional political unrest and some problems with its own workforce.

  This is the fourth consecutive annual loss suffered by the carrier. Since the Oman Government took majority ownership in early 2007, the airline has lost a staggering OMR295 million (USD766.9 million). The losses have not been surprising to anyone; the carrier and Government intentionally planned to ramp up expansion in the fast-growing market and then concentrate on profitability, taking the long-term view that setting the foundation blocks early – even if at a loss for some years ­– would yield a healthier profit in the future.