Kuwait Airways Privatization by March

Reuters08.01.2011 Kuwait
Kuwait Airways Privatization by March

Kuwait Airways Privatization by March

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State-owned Kuwait Airways will be privatized by end of March, the Chairman of the Gulf carrier was quoted as saying in a Kuwait newspaper this week.

Hamad al-Falah told Arabic language daily Al 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 privatization of its national carrier.
Kuwait's parliament approved a plan in 2008 to privatize loss-making Kuwait Airways Corp. Under the plan, the government will sell 40% of the flag carrier to the public and 35% 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.


Source: Reuters




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