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Mon 6 Apr 2015 01:16 PM

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Kuwait Airways could be kept in state hands after all

Parliament is discussing amending the privatisation of Kuwait Airways to keep gov’t stake at 75% instead of only 20%

Kuwait Airways could be kept in state hands after all
(AFP/Getty Images)

The Kuwaiti parliament is considering keeping Kuwait Airways in state hands by reducing the proportion of shares its impending sale to 25 percent, Kuwait Times reported.

The debt-riddled airline is already being prepped for privatisation under legislation passed five years’ ago.

Under that plan, the state would retain only 20 percent of the airline, with the remainder allocated to both citizens and investors.

On Sunday, the parliament’s financial and economic affairs committee reportedly discussed raising the state’s stake to 75 percent.

Committee spokesman MP Mohammad Al Jabri told the parliament the airline had accepted the proposal but Kuwait Investment Authority, which holds the government stake, was reluctant, the report said.

Last month, Kuwait Airways received the first of about 20 new planes it has leased and purchased from Boeing and Airbus. They were the first new aircraft in nearly two decades.

James 4 years ago

No body wants it so it is disguised as keeping it in state hands
It's a poor airline loaded with losses overstuffed poor service and not the airline of choice and same price as BA on London route why oh why would you use them

Abubaker 4 years ago

If they can do as EMIRATES OR QATAR ways doing they will get boost as soon as possible,but they have to put most focus on INDIAN destinations.I am sure they will beat any airliners.As per to my knowledge, very soon TIRUPATI AIRPORT is going to open for international passengers,so here in KUWAIT they are lot of passenger of ANDHRA PRADESH,if KUWAIT AIRWAYS operate direct service to TIRUPATI, then nobody can beat KUWAIT AIRWAYS.