Kuwait Airways reports 2009 net loss due to fuel price and competition

Kuwait Airways reported a net loss of KWD55 million (USD189.1 million) in 2009 due to significant increases in fuel prices in 2H2009 and "fierce competition" (Kuwait Times, 20-May-2010). Kuwait Airways Chairman and Managing Director, Hamad Al-Falah stated the carrier will lease one additional A330 aircraft to meet the expected increase in traffic during the summer from Jul-2010.

Kuwait Airways: "The increased supply and competitive prices of airline tickets caused an additional KD 19 million in losses, although we achieved an increase of 92 million in the number of passengers compared to 2008," Hamad Al-Falah, Chairman and Managing Director. Source: Kuwait Times, 20-May-2010.