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Kuwait Airways to be privatized this year
Kuwait Airways Corporation (KAC ) may be privatized this year, revealed Hammed Al-Falah, the Chairman of KAC.
The consultants will evaluate the corporation immediately on receipt of the government approval of the proposal. KAC will then be available for subscription, and will be transferred to a new investor and will begin operations as a private company in 2009, he said.
Al-Falah also revealed new pay-scale for Kuwait Airways and said employees will be paid in retroactive effect beginning from June last year, as per the approved increment of 45 percent of current basic salary for Engineers and 35 percent for other employees.
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