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Kuwait Airways Eyes End-March Privatisation-Paper - ASHARQ AL-AWSAT English Archive
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KUWAIT, (Reuters) – State-owned Kuwait Airways will be privatised by the end of March, the chairman of the Gulf Arab 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 Inc., 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 percent of the flag carrier to the public and 35 percent 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.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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