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FINANCIAL NEWS
Kuwaiti Agility eyes stake in Kuwait airline
07 Nov 2014
(MENAFN) Agility, the Kuwaiti logistics firm, announced that they are interested in buying a 35 percent stake in loss-making state carrier Kuwait Airways, Arab News reported.
Agility said that this investment plan is based on the company’s strategy of expanding into aviation services.
Previously, the Kuwaiti Parliament said it has approved a plan to privatize the flag-carrier by selling a 35 percent stake to an investment company, but since then the plan has been delayed several times.
“We don’t know the reason for all these delays although the state’s plans to privatize the company are clear and have been announced and are according to a law that should be executed,” Agility’s CEO said.
Agility is going to be facing a competition in buying the stake from Kuwaiti budget carrier Jazeera Airways, which also said that they are preparing to bid for a big stake in the carrier as well.
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