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Kuwait Airways posts $276m loss in 2010-2011

Kuwait Airways chairman and managing director, Hamad Al-Falah, has said the airline has incurred losses of up to KD76m ($276.6m) in the 2010-2011 financial year, Kuna has reported. The carrier suffers from an excess of employees, with the budget allocated for wages exhausting finances by an annual KD 100m, he said. Limiting staff would save the airline around KD30m, or 30% of its budget, he added.