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FINANCIAL NEWS
Kuwait- Jazeera Airways mulls stake in national carrier
26 Mar 2013
(MENAFN) Jazeera Airways’ Chairman, Marwan Boodai, stated that the company is interested in purchasing a stake in Kuwait Airways, the emirate’s national carrier, reported Gulf News.
Boodai said that although at the current time the budget airline doesn’t have a balance sheet for Kuwait Airways, however, it will seize any opportunity to acquire an equity stake in the carrier.
He added that until now, his company has not yet made the bid for Kuwait Airways, nevertheless, the national varrier’s acquisition will bring huge benefits to Jazeera, including cost savings, fleet alignment and maximizing returns.
It is worth noting that at the start of 2013, the Kuwaiti government ratified the privatization of the loss-making Kuwait Airways Corporation (KAC), following which it will sell a 35-percent stake in the carrier.
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