Kuwait Airways Corporation (KAC) will likely be privatised by the Kuwait Government, following a decision on 25-Jan-2010 (Gulf News, 26-Jan-2010). International consulting agencies reviewed KAC’s current position, necessary steps and legal procedures for a privatisation process, and recommendations of the economic affairs committee were approved. The company will reportedly be transformed into a shareholding company under the name of Kuwaiti Airways Corporation. The government is expected to be the major shareholder and the privatisation move is expected to be finalised by the end of Feb-2010.
27-Jan-2010 4:18 PM