FINANCIAL NEWS

Kuwait may privatize national carrier within a year

18 Nov 2012

(MENAFN) Kuwait Airways Company’s (KAC) chairman, Sami Al-Nusif, stated that the airline might be privatized within a year if the restructuring plan works, reported Arabian Business.

Al-Nusif said that several steps were taken, including the development of the carrier’s fleet, in order to draw more investors.

The loss-making airline plans to add new destinations; furthermore, it has raised maintenance fees to USD127.28 million from USD14.14 million to make sure that travelers have a secure and safe flight experience.

He added that the plan would boost KAC’s performance and allow it to play an essential role in transforming the country into a financial and commercial hub.

It is worth noting that the Kuwaiti cabinet endorsed an amended draft law in April for the privatization of Kuwait Airways within 3 years.

More News

This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more