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Kuwait Airways to be privatized in ten months
Kuwait Airways, which has been suffering huge losses, is likely to be privatized in the next ten months, reports the official news agency.
The Parliament in Kuwait had passed a government plan in January, wherein it was agreed to sell 40 percent of the carrier to the public, and another 35 percent to a long-term investor within next two years.
A plan for evaluation of assets of Kuwait Airlines was presented before the Communications Minister, Hamad Al-Falah.
The Chairman hopes that the process of privatization of the airline will be complete in the next ten months.
The carrier had lost most of its fleet during the occupation of Kuwait by Iraqis during 1990-91. Al-Falah revealed that the cabinet has approved a plan to lease tow aircrafts until the end of this year. While one A320 will begin operations this month, the second will be delivered in October.
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