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Kuwait awards IATA Kuwait Airways restructuring deal
- Kuwait: Wednesday, April 17 - 2013 at 06:01
The Kuwaiti cabinet has awarded the International Air Transport Association (IATA) the contract to restructure Kuwait Airways Co (KAC), Kuna has reported. The international trade body was selected from among four companies to carry out KAC'S restructuring requirements, said KAC chairman and managing director Sami al-Nisf. As part of the restructuring, the government will pay KAC's KD200m debts, which mostly includes loans from banks and food and fuel bills.
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