FINANCIAL NEWS

Kuwait Airways invites bids on 35% stake

01 Aug 2011

(MENAFN) Kuwait Airways announced looking for bidders interested in acquiring thirty five percent of the struggling carrier, reported AP.

The invitation for bidders comes as a part of the carrier’s long-awaited privatization plan.

Kuwaiti airlines are banned from submitting proposals, while all other firms listed in Stock Exchange and some international companies are welcomed to bid.

A privatization committee for Kuwait Airways added that the Kuwait Investment Authority government wealth fund would keep a fifth of the airline’s ownership.

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