Kuwait tentatively decides to privatise national carrier
Kuwait's cabinet has tentatively decided to privatise national airline, the Kuwait Airways Corporation.
The government, during a marathon session that went on until early yesterday, reviewed studies carried out by international consultancy companies to asses the situation of the Kuwait Airways Corporation.
Dr Bader Mohammad Al Saad, Managing Director, Public Investment Authority (PIA), along with Bader Ajeel Al Ajeel, Executive Manager, General Reserves Department, and advisor Nouri Al Salem, presented the assessments and results of the work carried out by consultancy companies.
Necessary steps for the implementation of the law number Six of 2008 regarding the transformation of the KAC into a shareholding company were reviewed during the session.
The government discussed a recommendation by the committee of economic affairs regarding the privatisation of the airways and tentatively approved a cabinet draft resolution concerning rules and executive measures of the law number Six.
The council also tasked the PIA to complete legal procedures to transform the corporation into a shareholding Kuwaiti company, which would be called the Kuwaiti Airways Corporation, so it may undertake its tasks according to the mentioned law.
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