Jan 26, 2013
Kuwait's national carrier Kuwait Airways has said it plans to buy new aircraft though the number has not been decided as yet following a long-standing bill cleared by parliament that will allow the carrier to privatize.
Chairman Sami al-Nasef was quoted by reporters saying half of the aircraft would be small and the other half large.
He told MPs only 10-12 aircraft of the carrier's ageing fleet were operational and the remainder were under "extended maintenance."
Kuwait Airways has a fleet of 15 Airbus and two Boeing aircraft.
According to a local paper, “Under the bill, initially issued by the emir in October when parliament was dissolved, the government will pay all losses incurred by KAC and estimated by some MPs at more than $1.5 billion (1.1 billion euros)….The aim of the new company is to restructure the airline and make it profitable before completely privatising it by inviting foreign or local investors to bid for 35 percent of the privatised company.”