21-Apr-2011 12:44 PM

Wataniya Airways proposes increasing its capital by USD37 million on restructuring

Wataniya Airways stated its board has proposed to increase its capacity by KWD15 million (USD37.4 million) with the aim of restructuring the company (KUNA, 20-Apr-2011). The company also stated that its extraordinary general assembly will be invited to convene to discuss the extraordinary agenda, which includes two items, namely considering an increase of the company's capital, and mulling the company's future status. Accordingly, the company's shares will go back to trading as of 21-Apr-2011.