In a press statement, Sheikh Talal Al- Mubarak added that the rise in fuel prices has had an adverse effect on Kuwait Airways Corporation since it is the largest consumer of fuel of the Kuwait Aviation Fuelling Company, which has earned the monopoly of the sole seller of aviation fuel in the Kuwait market.
He stated that the Corporation's budget for the year 2005-2006 was based on 85 Fils per liter, reaching a total cost of KD 39 Million for fuel but the current fuel prices skyrocketed to 136 Fils that is an increase of 60% rise in fuel prices. This in turn has increased the total costs to 40 Million.
Expressing concern for this situation, Sheikh Talal asserted that the Government should impose a ceiling for limiting the successive rise in aviation fuel prices which in turn enable the Corporation to decrease its losses and increase its operational profits and the Corporation will be able to continue to develop its services and expand its network with the aim of satisfying its clients on one hand and by encouraging other Airlines to send flights to Kuwait on the other.
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Budget situation of Kuwait Airways Corporation will improve if fuel prices are controlled
- Kuwait: Wednesday, August 10 - 2005 at 08:39
- PRESS RELEASE
Chairman and Managing Director of Kuwait Airways Corporation Sheikh Talal Mubarak Abudullah Al-Ahmad Al-Sabah called on concerned authorities to accelerate the creation of a specific mechanism that will raise the percentage of deductions granted to Airlines for the consumption of fuel at the Kuwait International Airport.
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Posted by Anne-Birte Stensgaard, Senior News EditorWednesday, August 10 - 2005 at 08:39 UAE local time (GMT+4)
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This article was updated on Tue Feb 13 2007.
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