21-Jun-2011 12:49 PM

Kuwait Airways losses widen in FY2011

Kuwait Airways Chairman Hamad al-Falah stated the carrier reported a widening loss from KWD55 (USD199.7 million) to KWD76 million (USD276 million in the 12 months ended 31-Mar-2011 due to increasing maintenance and fuel costs (The Daily Star/Arabian Business/Kuwait Times, 21-Jun-2011). Details include:

  • Revenue: KWD227 million (USD824 million), n/a year-on-year;
  • Costs: KWD303 million (USD1100 million);
    • Fuel: KWD75 million (USD272 million);
    • Maintenance: KWD36 million (USD130 million);
  • Profit (loss): (USD276 million), compared to a loss of USD199.7 million in p-c-p.