Kuwait has appointed Citigroup, Ernst & Young and aviation services firm Seabury to handle the privatisation of the state's national carrier, Kuwait Airways.
The state news agency Kuna quoted a state committee as saying on Wednesday that the contracts with Citi and the two other companies will be signed in coming days.
Kuwait's parliament approved a plan in 2008 to privatise loss-making Kuwait Airways Corporation. Under the plan, the government will sell 40 per cent of the flag carrier to the public and 35 per cent to a long-term investor.
The world's fourth largest oil exporter is on a drive to boost its private sector and become a regional financial centre.
Kuwait's economy is largely dependent on oil revenues and driven by government spending.