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23 February 2024

Kuwait moves ahead to privatise state airline

Published
By AP

A parliamentary committee in Kuwait has approved the privatisation of struggling flagship carrier Kuwait Airways, but says the process could take up to three years.

The report by the official Kuwait News Agency gave no further details. But officials on Tuesday suggested there were no major changes to previously announced plans to offer a 35 per cent stake to shareholders.

Kuwait Airways faces several challenges including high labour costs, an aging fleet and stiff competition from other Gulf carriers.

The move comes four years after Kuwait's parliament first approved a plan to restructure the airline.