Kuwait Airways gets the nod for privatisation

The Kuwaiti Government has reviewed an assessment of Kuwait Airways' condition on the basis of studies conducted by international consultancy agencies and the Cabinet has given a go-ahead for the sale to proceed during 2010.

The vehicle will be a company Kuwait Airways Company with a 40% stake being offered to Kuwaiti nationals; Another 35% stake will be sold to an as yet unamed strategic partner and a further 5% will be handed to staff.

Kuwait’s Government will retain a 20% stake.