23-Oct-2012 1:14 PM

Kuwait Airways declared shareholding company

Kuwait Airways was declared a shareholding company under the name Kuwait Airways Company on 22-Oct-2012, according to a KUNA report. The company will acquire all the airline's material and non-material assets and liabilities and the Kuwait Government will cover the company's losses. A seven-member board will be appointed by the Government for a three-year term and will be tasked with restructuring the airline.