Add News     Print  
Article List
‘Air fleet upgrading deal by KAC with Airbus is in order’ Authorities want airways to remain commercial firm

 KUWAIT CITY, July 7: The National Assembly Fact Finding Sub-committee in the Legal and Legislation Committee said the air fleet upgrading contract which Kuwait Airways Corporation (KAC) signed with Airbus is in order, reports Al-Seyassah daily. The daily quoting a source noted the recommendation of the committee to modify its legal status signifies the intention of the executive and legislative authorities to keep KAC as a national carrier under the control of Kuwait Investment Authority.

He reiterated both authorities want KAC to remain a commercial company owned by the state, and that the decision will see to modifications that lead to floating of 35 percent of the company’s share as stipulated in the company’s privatization law.

He disclosed the management of Kuwait Airways has been working hard to execute this concept and the company will be managed through private sector approach while it remains a government owned company. He added KAC was in need of upgrading air fleets, as well as its financial and administrative restructure, apart from change in its basic regulations to ensure strict business orientation with the mindset for profit. He likened the operational style to what is obtainable in the Emirates Airline, Qatar Airways and Etihad, which are government owned, as commercial companies with huge profit margins.

Read By: 4700
Comments: 0

You must login to add comments ...
About Us   |   RSS   |   Contact Us   |   Feedback   |   Advertise With Us