No Result
View All Result
Monday, June 27, 2022
32 °c
Tripoli
32 ° Tue
31 ° Wed
32 ° Thu
32 ° Fri
  • Advertising
  • Contact
LibyaHerald
 
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Business

Buraq Air stops flying; hard currency cash crisis blamed

byMichel Cousins
July 5, 2017
Reading Time: 2 mins read
A A
Buraq Air stops flying; hard currency cash crisis blamed

Buraq office tripo

12
SHARES
51
VIEWS
Share on FacebookShare on Twitter

By Libya Herald reporter

Buraq office tripo
The Buraq office in Tripoli is firmly closed (Photo: Libya Herald)

Tripoli, 5 July 2017:

Following last month’s suspension of its Mitiga-Tunis service, Buraq airlines has now stopped its remaining flights from Mitiga to Labraq and Tobruk. The office in Tripoli is closed and attempts to contact the independent carrier by phone have been unsuccessful. However, members of staff, speaking privately, have told the Libya Herald that all flight operations have been suspended and that the company is in financial difficulties.

Earlier last month, Buraq announced that it was suspending its service to Tunis until after Eid on the grounds that there was little demand during Ramadan. This was dismissed by other airlines which said that they were not experiencing any similar slowdown in demand.

One senior official from a rival airline explained that, like all Libyan carriers, Buraq was experiencing a hard-currency cash flow crisis because of the Central Bank of Libya’s restrictions on access to dollars. However, he said, it was being particularly badly hit. Its problem was the cost of maintenance of its two Boeing 737-800s. Unlike Libyan Airlines and Afriqiyah Airways which carry out a degree of maintenance themselves, Buraq had no in-house technical department to carry out the maintenance required and had to contract it out abroad. That required hard currency which was not being made available, the rival airline official said. Moreover, he explained, one of Buraq’s Boeings needed a major engine overhaul. Additionally, he pointed out, even if it was not flying, the carrier still had to make the payments on the two aircraft – in dollars.  That added to its difficulties.

RELATED POSTS

Aldabaiba proposes new Road Map for holding elections, loans and land for youth and money for healthcare for war wounded

Cooperation agreements reached between Libyan and the Greek pharmaceutical and medical companies: Tripoli Chamber of Commerce

The company, which has some 180 staff, was working hard to find a solution and had been approaching potential investors, he added, but the political crisis since 2014 had made the situation worse.

“We’re all losing money at the moment, but it is hitting Buraq harder than the rest of us.”

Tags: Buraq AirwaysclosedfeaturedLibya
Share5Tweet3Share1

Related Posts

Tripoli Chamber invites investment proposals for its buildings
Business

Tripoli Chamber signs a protocol with Alexandria Chamber of Commerce

June 25, 2022
Libya Renewable Energy & Energy Efficiency Technologies: Misrata, October 2022
Business

Libya Renewable Energy & Energy Efficiency Technologies: Misrata, October 2022

June 25, 2022
Southern Libyan agribusiness using pivot irrigation to grow 150 hectares of animal feed
Business

Southern Libyan agribusiness using pivot irrigation to grow 150 hectares of animal feed

June 25, 2022
Libya Exhibition for the Export of Human Resources Services: 16 to 18 August in Tripoli
Business

Libya Exhibition for the Export of Human Resources Services: 16 to 18 August in Tripoli

June 25, 2022
As it reopens its air, land and sea borders, Tunisia announces its categorization plans – Libyans watch eagerly
Business

Libya to pay US$ 74 million debt to Tunisia’s STEG for electricity via Tunisia-Algeria connection

June 24, 2022
Tripoli Chamber invites investment proposals for its buildings
Business

Tripoli Chamber business delegation to visit Athens Chamber of Commerce this August

June 24, 2022
Next Post
Mitiga airport reopens after gunmen arrested

Mitiga airport reopens after gunmen arrested

Mystery Italian consortium given contract for Tripoli International Airport

Mystery Italian consortium given contract for Tripoli International Airport

 

Advertise on LibyaHerald

Reach thousands of our site visitors daily

240 x 400px

Advertise Here
ADVERTISEMENT

Top Stories

  • Malta-based Libyan carrier Med Sky to start chartered flights from Misrata to Malta from 5 May

    Malta-based Libyan carrier Med Sky to start chartered flights from Misrata to Malta from 5 May

    582 shares
    Share 233 Tweet 146
  • Two leading Tripoli militias clash in town centre

    486 shares
    Share 200 Tweet 119
  • Hafter’s representatives in the 5+5 Joint Military Commission announce suspension of their participation in the commission

    378 shares
    Share 157 Tweet 92
  • Bashagha reveals proposed government of 41 – with 30 ministers and 8 ministers of state

    364 shares
    Share 148 Tweet 90
  • Bashagha enters Tripoli briefly before being forced to exit swiftly in the face of determined militia opposition

    354 shares
    Share 142 Tweet 89
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

Tripoli Chamber signs a protocol with Alexandria Chamber of Commerce

Libya Renewable Energy & Energy Efficiency Technologies: Misrata, October 2022

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    No Result
    View All Result
    • Login
    • Sign Up
    • Cart
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Sign In with Facebook
    Sign In with Linked In
    OR

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Sign Up with Facebook
    Sign Up with Linked In
    OR

    Fill the forms bellow to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
    Are you sure want to unlock this post?
    Unlock left : 0
    Are you sure want to cancel subscription?