Kuwait Airways’ Sale

KUWAIT’S GOVERNMENT is keen to see its flag-carrying airline return to profit after more than a decade of losses, and is seeking bids to sell 35% of Kuwait Airways.  All “identified assets, liabilities, rights and benefits” will be transferred to a new company called Kuwait Airways Company, the government’s privatisation committee said in August.
In January 2008, Kuwait’s parliament decided to sell shares in the airline, which hasn’t turned in a profit since the 1990 Iraqi invasion.  The government planned to offer 40% of the stock to the public – 35% to a strategic investor, 5% to employees and the remainder for itself.