Kuwait Airways reports another year of heavy losses
Kuwait Airways has been unable to staunch the heavy flow of losses but the Kuwait government appears to be pressing on with the proposed privatisation of the carrier regardless. Despite Chairman and Managing Director Hamad Al-Falah reporting the carrier suffered a loss of KWD76 million (USD276.3 million) for FY2010/11 on 20-Jun-2011, just five days later the Privatisation Committee of Kuwait Airways Corporation (PrivComm) announced analysis of the carrier and the Kuwaiti market has “identified a clear investment opportunity for a restructured national operator”.
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