Kuwait Airways privatisation by March-end
Kuwait, January 5, 2011
State-owned Kuwait Airways will be privatised by the end of March, the chairman of the Gulf carrier was quoted as saying in a Kuwait newspaper on Wednesday.
Hamad al-Falah told Arabic language daily An Nahar that 'the transformation procedures are in the final stages.'
Last August, Kuwait appointed Citigroup, Ernst & Young and aviation services firm Seabury to handle the privatisation of its national carrier.
Kuwait's parliament approved a plan in 2008 to privatise loss-making Kuwait Airways Corp. Under the plan, the government will sell 40 per cent of the flag carrier to the public and 35 per cent to a long-term investor. The airline has a fleet of 17 planes.
Falah also told the newspaper that its fleet of five Airbus A300 jets, grounded last month for inspection, were back in service.-Reuters
More Travel, Tourism & Hospitality Stories
- Qatar Airways launches online visa system
- Etihad in talks on $413m Alitalia investment
- W Doha Hotel wins top award
- Boom time for UAE hospitality sector
- Sanad, airberlin ink financing deal
- Major cruise liner docks at Abu Dhabi port
- Etihad, Greek airline sign codeshare
- Flynas scores 91pc in customer satisfaction
- Flora plans $204m property expansion in Dubai
- Dubai sees Ukraine tourist numbers up 29pc