Kuwait’s Wataniya Airways has ceased operations citing its financial situation and regional instability as the main causes.

The airline’s last flight was on 16 March.

“Given the current financial situation of the company and the lack of fair trade requirements in the local market, as well as the difficult political and security situation in the region, the board has decided to cease all Wataniya Airways operations,” says a company statement.

The Board of Wataniya Airways is now holding meetings to discuss the company’s financial condition and options for the company going forward.

In November 2010, the airline cancelled operations to four destinations including Amman, Bahrain, Damascus and Jeddah. It also reduced its staff numbers and reduced the number of aircraft in operation (MEED 20:11:10).

“We operate in a market dominated by large state-subsidised carriers, who are allowed to flood Kuwait with excess capacity,” said Jassim al-Qames head of public relations, at the time.