11-Aug-2010 11:23 AM

Kuwait Airways' privatisation set for Mar-2011

Kuwait Airways stated the legal transfer of the carrier to a new private shareholding company is scheduled to be completed by 01-Mar-2011 (MEED, 10-Aug-2010). The Board of the new company, which will have capital of KWD220 million (USD769 million), will be elected by Saudi Arabia's General Assembly. Once the transfer is completed, the public will be invited to subscribe.