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Cabinet approves privatization of Kuwait Airways

The Cabinet in Kuwait has passed a draft law to privatize the state carrier Kuwait Airways within next three years.

The Minister of Communications, Salem al-Uthaina, said that the measure seeks airline's board to sell 35 percent stake to the highest bidder. The draft law has been already referred to the country’s legislature.

Earlier, an attempt was made to privatize the airline. But, it failed, as the Cabinet has suggested restructuring of the airline, prior to going ahead with sale of 35 percent stake.

The airline has been grappling financially to compete with its new rivals such as Qatar Airways and Emirates of Dubai.

Until the privatization is done, the KAC (Kuwait Airways Corp.) will be under direct supervision of the Communications Minister, who has the authority to form new Board of Directors.

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