Kuwait Airways reports another year of heavy losses

Kuwait Airways has been unable to staunch the heavy flow of losses but the Kuwait government appears to be pressing on with the proposed privatisation of the carrier regardless. Despite Chairman and Managing Director Hamad Al-Falah reporting the carrier suffered a loss of KWD76 million (USD276.3 million) for FY2010/11 on 20-Jun-2011, just five days later the Privatisation Committee of Kuwait Airways Corporation (PrivComm) announced analysis of the carrier and the Kuwaiti market has “identified a clear investment opportunity for a restructured national operator”. [1082 words]

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This report contains the following subheadings:

• Major turn-around needed
• Surfeit of employees a drain
• The long road to privatisation

This report contains the following charts and tables:

• Kuwait Airways fleet
• Kuwait International Airport capacity (seats per week, to/from) by carrier (27-Jun-2011 to 03-Jul-2011)