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Kuwait National Airlines 3Q2010 net loss narrows

12-Nov-2010 12:16 PM

Kuwait National Airlines reported its net loss* narrowed from KWD2.1 million (USD7.5 million) to KWD1.6 million (USD5.7 million) in the three months ended 30-Sep-2010 (Bloomberg, 11-Nov-2010). For the nine months ended 30-Sep-2010, net loss reached KWD8.2 million (USD29.3 million, comparable to the KWD8.0 million (USD28.6 million) loss in the previous corresponding period (Arab Times, 11-Nov-2010). Total shareholders’ equity fell 28.6% to KWD30 million (USD107.1 million) at the end of the period.