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FinancialNews


  • 18-11-12

    Kuwait may privatize national carrier within a year

    (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.

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