Business News
Saudi airline Sama halts services after 266 million dollar loss
Aug 22, 2010, 17:11 GMT
Cairo - Saudi low cost airline Sama is stopping its services amid heavy losses, regional news network al-Arabiya reported on Sunday.
The airline, based in the city of Dammam, reportedly took the decision after recording an annual loss of 266 million dollars.
The Saudi Civil Aviation Authority has been formally informed of the decision.
Sama has flown to domestic and international destinations since beginning operations in 2007, and is chaired by Prince Bandar bin Khaled bin Faisal. It competes with the state owned Saudi Arabian Airlines and another budget carrier.
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