DUBAI, Oct 20, (RTRS): Kuwait Airways expects to make a profit within the next two to three years, its chief executive said on Tuesday, as it aims to cut costs and improve its operational efficiency. The airline’s losses for 2015 will be less than 20 million dinars ($66.3 million), compared with 33 million dinars in the previous year, Chief Executive Abdullah al- Sharhan told Reuters.
“In 2015, we aim to reduce some of the losses. We continuously improving,” he said. Kuwait’s government has approved plans to privatise the airline. Under the proposal, 20 percent of the airline’s shares would be offered to Kuwaiti citizens, five percent to current and retired employees, while the government would retain the rest. Al-Sharhan said that parliament is expected to pass this plan in the next few months