Kuwait Airways eyes end-March privatisation

'The transformation procedures are in the final stages,' chairman of the Gulf Arab carrier says
Kuwait Airways eyes end-March privatisation
PRIVATISATION PLANS: State-owned Kuwait Airways will be privatised by the end of March
By Reuters
Wed 05 Jan 2011 11:38 AM

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, 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. 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.

 

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