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Kuwait Airways set to report $283m loss
- Kuwait: Saturday, September 08 - 2012 at 01:46
Kuwait Airways Corp (KAC) has it expects to make a loss exceeding KD80m ($283m) in 2012, due to rising costs mainly related to salaries and maintenance expenses, Zawya Dow Jones has reported. Jasem Zainal, a member of KAC's board, said the board has submitted studies to the cabinet about the way to operate and replace the airline's fleet, which includes replacing the fleet through lease-to-purchase contracts in order to revive the national carrier. The plan can't be achieved unless KAC is converted into a company under the supervision of Kuwait Investment Authority, he added.
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StaffSaturday, September 08 - 2012 at 01:46 UAE local time (GMT+4)
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