Font Size

- Aa +

Thu 31 Mar 2016 10:33 AM

Font Size

- Aa +

Kuwait's Jazeera Airways says major shareholder has no current sale plans

Bourse statement said “shareholders are always reviewing their investment funds”

Kuwait's Jazeera Airways says major shareholder has no current sale plans
Kuwaiti low-cost carrier Jazeera Airways. (Getty Images)

Kuwait's Jazeera Airways said on Thursday its major shareholder had no current plans to divest its stake in the airline.

The carrier was responding to press reports that Boodai Corporation, an investment holding conglomerate, hired HSBC to advise it on a possible stake sale. Sources had confirmed this to Reuters on Tuesday.

Jazeera Airways' major shareholder has "confirmed that they have no plans in the near future to sell their shareholding", the carrier said in a bourse statement.

"But the shareholders are always reviewing their investment funds" and with support from advisors the possibility of selling in the future cannot be ruled out, the statement added.

Jazeera Airways also said that press reports on it entering into mergers or acquisitions or listing the company on global markets is not correct.

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.