after shutting down half of its roots and firing half of its staff, wataniya airways released news saying that the airline is growing its destinations across the globe through vienna...
yesterday, the airline sends kuwait stock exchange a clarification from the board of directors which had decided to put an additional close on the general assembly meeting's agenda proposing a reduction of the airline's capital, the payment of the accumulated losses, followed by a kd 15 million increase of capital and a major restructuring of the company.
though this might sound like great news, it is not! by connecting the dots and by simply looking at the airline's history in faking good news by publishing good PR, you quickly realize that all this is just sand in the face...
wataniya's debts total millions of kds (alafco put aside), from catering to fuel to every single airport the airline used to fly to.. all these suppliers need to be paid before a single airplane can even start its engines... the kd 15 million will be gone in a matter of seconds.. so what's behind the fake good news? i guess we'll have to wait and see, we may be wrong with our analysis but the writing is on the wall!
to watch, the airline's share price which will resume trading today - what will the shareholders do? sell and run or swallow the poisonous shares? the saga continues..
by the way, i am starting a new category called wataniya airways saga as the subject seems promising..
related posts:
wataniya airways sends staff ambiguous letter
wataniya airways fears law suit agrees to "connect" with staff
wataniya airways staff to sue the airline.. what a pleasure!
wataniya airways staff get first class treatment
I really really can't understand this company's game…I've never seen anything like it..They are professional scammers! I have to admit that they have an evil creative mind, but you know what hurts most? it's that they think that people are stupid! We have a brain and we can use it. Besides, who's stupid enough to work with them AGAIN!? This is so low.. GO TO HELLLLLLLLL
OK all this is fine, I don't give a damn what they do…All I want to know is: Are they going to pay the employees? HOW and WHEN?
It’s all PR… Nothing good will come out from this airline.. Wake-up it’s all over
Nobody in the market touched the stock in today’s trading.
The Bid, Bid Qty and Bid Num, which are the portfolios offering to buy are all zeros.
Even though people are willing to sell at 48 fils, no one bought a single share.
The man wants it for himself alone…and it will be an exclusive kind of airline…
Dream on ;) it's gone dude!
No one is stupid and crazy enough to buy stocks or do anything with this company
KUWAIT: The Ministry of Commerce and Industry approved on Thursday the date for Wataniya Airway’s ordinary and extraordinary general assembly, which will be held on May 11, 2011. A source revealed to Al Watan that the agenda of the general assembly will no longer include a proposal to reduce the capital, which was aimed at reducing the accumulated losses of the company, to protect ownership rights and upon the desire of many. He noted that the option to increase the capital by 15 million Kuwaiti dinars in order to restructure the company is however still on the table. The source noted that there is some uncertainty on whether extraordinary general assembly will be held based on the fact that the quorum of 75 percent of shareholders must be reached. He noted that the quorum may be attained as a large number of shareholders are expected to attend the general assembly to become aware of the company’s future plans, considering its recent conditions including suspension of commercial operations and all flights since March 16, 2011 and the dismissal of all but 30 employees. It is also worth mentioning that the shares of the company resumed trading on Thursday after being suspended, at the company’s request, since March 16 when its price reached 51 Kuwaiti fils. Wataniya Airways’s stocks experienced no activity in Thursday’s trading session – (from 965malls facebook page)
Wataniya was a breath of fresh air in the market because they took a ravaged and neglected airline industry, albeit an extremely important market and brought some civility to the country of Kuwait. I realize that there are extremely bitter employees out there; however, as a dedicated customer of Wataniya Airways who had to fly it for business purposes, it is sorely missed. I had to go through that outrageously mismanaged (KIA) airport recently and I am appaulled how this airport, which is the gateway to this nation, is so sorely neglected by this government. A new airport should have been built in this country decades ago and it was a 'no brainer' that this is step one in the developmental process. In the meantime, that there are rumors of a new aiport finally being built and granted that they don't spend years 'studying' the floorplan, the current airport should be IMMEDIATELY overhauled because it is speculated that it will take 5 years to build.
Is it that difficult to organize an immigration section? PLEASE KUWAIT! I could overhaul your immigration section with no job experience! It is a disgraceful!!! I don't care if you think that Wataniya AIrways is the most scrupulous company to hit the Kuwait market, they ventured where no one has gone before and that is bring some sort of civility and customer service to the airline industry market in Kuwait taking the customer OUT of KIA in a civil terminal because of an inefficient government who has dragged their feet in the developmental process in this nation. They should have marketed the terminal as a new beginning for Kuwait. Executives were flying new employees into Kuwait through this terminal so they weren't so traumitized by thier first impressions of Kuwait from KIA, passengers were connecting to flights in Dubai and departing Kuwait through this terminal, and people felt a moment of pride that FINALLY someone in this nation decided that KIA was not acceptable.
It is about national pride that an airport is built in this nation and this oil rich nation is not short of funds to build a new airport -FOR THE PEOPLE. You don't deserve a new aiport like neighboring GCC nations where their sheikhs have built new airports for their people??? You DO! I will be the first one at the desk when they re-open. It was all about the terminal for me, not the airline. The marketing was wrong on this airline, it was not marketed properly overseas and Kuwait. In addition, you don't rely on one customer base in a market to bankroll your airline – Kuwait is a diversified society. Vienna was a bad decision, although when Wataniya crashed Emirates added three additional flights on their Vienna route. With no liquor on a plane – I doubt very much the Kuwaiti customer is going to fly to Vienna on a plane. London – most likely would have been a better route, since London is a second home to many Kuwaitis. Wataniya ticked alot of the boxes and corrected alot of the shortfalls in the airline industry that have been in decay for years, ie Kuwait Airways.
After trying FLYDUBAI which goes through Terminal 2 and Jazeera Airways I will go running back to Sheikh Saad Terminal to fly Wataniya once again. I need two days just to destress from going through the ordeal of flying in/out of KIA, that stress I will no longer have to endure when Sheikh Saad Terminal reopens. And quite frankly I don't care if 'Big Bird Airways' flies out of Sheikh Saad Terminal; I will fly that carrier out of Kuwait because for me it is ALL ABOUT THE TERMINAL. Wake up Kuwait and demand that your government perform for the people of Kuwait – we all suffer because you put your heads down and accept inefficient government – demand that they IMPLEMENT the floorplan to the new airport, not spend years STUDYING the floorplan. It is the gateway to your nation – it is about the pride of your nation!
Way to go Fred !!! you made my day!! one comment about London, i had a pilot-friend at Wataniya and their airbus A320 cannot make it to London, that's why they were stuck with shorter routes, but you're absolutely right about the terminal and the state of our airport. We deserve better than this!
You can't just let a terminal like Sheikh Saad Terminal sit. If Wataniya is not going to utilize the terminal then it should be given to another airlines. The current airport is already way overextended with passenger numbers. This is an airport that was built back in the 70's, that is how old it is, and to overhaul this airport will take time especially since that has not occured, so it is imperative before the summer travel rush that someone make a decision on how to utilize this terminal. They could do an egate and do iris checks to cut down on illegal entrance. All inprocessing in immigration should be done in a separate section, and there should be a representative that speaks Hindi, Bangali, Singalese to assist the laborers when they come in the airport.
If someone can get a message to Wataniya Airways please pass this message on. According to the 99.7 radio show this morning, all the flights are booked out of Kuwait starting on the 1st of June, so this is a perfect time to re-introduce Wataniya Airways into the market. May of us were exiting Wataniya out of Kuwait anyway and flying to foreign airports to begin our international flights. Get on the ball and get flying again! Market the airline better- market the terminal and highlight the advantageous of flying out of there
They already know peak time seasons and that’s what make their decision to stop flying before summer so stupid. They could have benefited from summer season then close down. But hey, this us Wataniya !!
This is stupid managment and organization!! All the plans they did with their mafia was so full of Sh***, any kid would know that they worked backwards instead of trying to help the company…it's such a shame because we all loved wataniya from employees to passengers. And I really can't see how they claim that they're going to fly again. Who trusts them?
Wataniya Airways Was in the wrong track from the beginning. Few seats, No network, expensive tickets, unexperienced BOD's. and the bad intention toward fellow airlines to overtake. This Airlines should be sued and top management should put in jail, they are very un transparent with employees and customers. I'm sad for Wataniya but your intention was to harm others ( KAC) and what goes round must comes around.
whipe off wataniya, rais KAC and polish Jazeera. bad luck Wataniya. i really smell routen things out of your mngmnt.
You're so right Jasserm and I totally agree with you. KAC should take over wataniya airport and join the poor employees with a lawsuit against the managment who gained huge bonuses(and for what!!???) while they made their staff starve!
I disagree with Jassem and Fayez. The tickets were not expensive, in fact , I was paying the same price as FLYDUBAI if not less on Wataniya. Sheikh Saad Terminal can not go to KAC because KAC has collapsed. It is merely a labour carrier and that is how it stayed afloat all these years by marketing their flights in the subcontinent. Their planes were grounded by the EU not too long ago and the entire airline is bankrupt and is about to go on the bidding block. I am quite amazed on what a short memory span the people of Kuwait have? I believe that Wataniya will come back and I hope it does. As for the terminal, I think it should go to Emirates and FLY DUBAI, that 's if they want it. They could do stopovers with the 380 Airbus to London during the peak summer months that's oif the runways can handle it? I also want liquor legalized beyond immigration in the business class lounges. Wake up Kuwait and get with the program! This was a tragedy for the entire country when Wataniya crashed, not only for their employees and dedicated customers, but for the reputation of this nation. The government should have offered protectionism. Do you really want to give a brand new terminal to labourers? This country????
Another idea for Sheikh Saad Terminal is that they make it a business class/first class lounge to participating carriers. This would take all these passengers out of Kuwait International Airport, however, they would have to work out the logistics. They would have to upgrade the busses and if not done correctly, it could slow down the flights. It definately should be utilized and this terminal should not sit when the airport can not cope with the passanger numbers. KAC can not handle this terminal and even if they took this terminal, it would not entice foreign passengers to take this deteriorating carrier that is flying on it's last wing. Foreigners have boycotted this carrier for last decade because of it's racist policy towards them and laborers fly them because they get good rates to the subcontinent and direct flights with higher baggage weightage. I hope Wataniya comes back, it was a great airline! I don't understand why the Kuwait public did not get this airline??? It was a moment of civility in this nation and that's difficult to find.
you guys are serious… no one wants to fly kuwait airways, their maintenance is know to be one of the worst in the world. The same level of some African airlines…
Wataniya Airways Victims Group
Travelers holding tickets from WATANIYA AIRWAYS for flights after March 16, 2011 demand full refund of their paid tickets!! Join this Group to organize our demand:
http://www.facebook.com/pages/Wataniya-Airways-Vi…
Wataniya Airways Victims Group
Travelers holding tickets from WATANIYA AIRWAYS for flights after March 16, 2011 demand full refund of their paid tickets!! Join this Group to organize our demand:
http://www.facebook.com/pages/Wataniya-Airways-Vi…