Nasair on track for a better year

Nasair, Saudi Arabia's first low-cost airline, has enjoyed a strong start to 2012 after a challenging couple of years dented profit margins, the company's chief executive officer told Gulf News. The Riyadh-based carrier, which signed a key franchise agreement at Arabian Travel Market in Dubai yesterday, has been affected by escalating oil prices and political uncertainty across the region. But Francois Bouteiller, Nasair's CEO, said the company was on track to enjoy a better year despite increasing competition in the region's budget airline sector. "We have had a challenging couple of years, which has not been helped by the rising price of fuel. When you factor in the Arab Spring, you can see why life has been a bit more difficult these past few years," said Bouteiller. "We expected to be profitable in 2011, but that was not the case. From an operational perspective we are profitable and we have enjoyed a good first quarter in 2012," he added.