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Kuwait Airways plans privatization within a year

The Chairman of Kuwait Airways Company (KAC), Sami Al-Nusif, said that the airline may be privatized within a year, if the restructuring plan works.

According to Al-Nusif, there were several steps taken, including development of carrier’s fleet to draw in more investors. The airline plans to add new destinations to its list, and has increased maintenance fees from $14.14 mn to $127.28 million to ensure that travellers have a safe and secure flight experience. The plan is expected to boost KAC's performance and allow it to play an essential role in transforming the country into a commercial and financial hub.

In April, the Kuwaiti cabinet endorsed a draft law for privatization of Kuwait Airways within three years. KAC is likely to play a vital role in transforming the country into a financial and commercial centre, Al-Nusif pointed out.

He said that privatization of KAC is within Kuwait’s plan for development, noting that such a measure would transform the company into a leading force within air travel domain.

As for the status of its employees, KAC is considering the issue, and the performance of employees’ has to be taken seriously if the company was to compete. The performance of KAC employees who could not retire or have served for less than 15 years is being reviewed and the outcome is thought to be beneficial for the parties involved, he said.

As for the privatization of KAC, developing the company’s fleet is the first step ahead, to attract investors and set up a business base, as selling the company in its present status does not seem to be a good option.

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