Home Click here to download the Media Kit
Reference: Français Español Deutsch    Online: عربي English
Country Profiles:
Afghanistan
Albania
Algeria
Azerbaijan
Bahrain
Bangladesh
Benin
Brunei
Burkina
Cameroon
Chad
Comoros
Cote d’Ivoire
Djibouti
Egypt
Emirates
Gabon
Gambia
Guinea
Guinea Bissau
Guyana
Indonesia
Iran
Iraq
Jordan
Kazakhstan
Kuwait
Kyrgyzstan
Lebanon
Libya
Malaysia
Maldives
Mali
Mauritania
Morocco
Mozambique
Niger
Nigeria
Oman
Pakistan
Palestine
Qatar
Saudi Arabia
Senegal
Sierra Leone
Somalia
Sudan
Suriname
Syria
Tajikistan
Togo
Tunisia
Turkey
Turkmenistan
Uganda
Uzbekistan
Yemen
Andorra
Angola
Antigua
Argentina
Armenia
Australia
Austria
Bahamas
Barbados
Belarus
Belgium
Belize
Bhutan
Bolivia
Bosnia
Botswana
Brazil
Bulgaria
Burundi
Cambodia
Canada
Cape Verde
Central Africa
Chile
China
Colombia
Congo
Congo Democ.
Costa Rica
Croatia
Cuba
Cyprus
Czech
Denmark
Dominica
Dominican Rep.
Ecuador
El Salvador
Eq. Guinea
Eritrea
Estonia
Ethiopia
Fiji
Finland
France
Georgia
Germany
Greece
Grenada
Guatemala
Haiti
Honduras
Hungary
Iceland
India
Ireland
Italy
Jamaica
Japan
Kenya
Kiribati
Laos
Latvia
Lesotho
Liberia
Liechtenstein
Lithuania
Luxembourg
Macedonia
Madagascar
Malawi
Malta
Marshall
Mauritius
Mexico
Micronesia
Moldova
Monaco
Mongolia
Myanmar
Namibia
Nauru
Nepal
Netherlands
New Guinea
New Zealand
Nicaragua
North Korea
Norway
Palau
Panama
Paraguay
Peru
Philippines
Poland
Portugal
Romania
Russia
Rwanda
Saint Kitts
Saint Lucia
Saint Vincent
Samoa
San Marino
Sao Tome
Serbia & Mon.
Seychelles
Singapore
Slovakia
Slovenia
Solomon
South Africa
South Korea
Spain
Sri Lanka
Swaziland
Sweden
Switzerland
Tanzania
Thailand
Timor-Leste
Tonga
Trinidad
Tuvalu
Taiwan
Ukraine
UK
Uruguay
USA
Vanuatu
Vatican
Venezuela
Viet Nam
Zambia
Zimbabwe
Ghana

Kuwait Airways panel to assess stake buyout bids


 

Dubai Kuwait Airways Corporation’s privatisation committee — PrivComm — will assess expressions of interest (EOIs) made to purchase a 35 per cent stake in the carrier following the expiry of the August 25 deadline for submissions.

“The Privatisation Committee of Kuwait Airways (PrivComm) has confirmed the close of the initial Expression of Interest phase of the proposed privatisation programme,” the company said yesterday in a statement.

It added that Privcomm will work closely with its advisers to assess the EOIs received to date. While the company did not divulge details on the number of companies that submitted EOIs, it said in the statement: “An update to the market will be provided in due course.”
It added: “PrivComm remains committed to ensuring the best option for securing the future of the airline that serves the needs of the people of Kuwait and the national economy.”

Firms eligible

However, the privatisation committee said in an August 1 statement that the only firms eligible for the stake sale would include joint-stock companies listed on the Kuwait Stock Exchange or some specialised international companies, adding that the subscription process was not open to Kuwaiti domiciled airline operators. It further said that all identified assets, liabilities, rights and benefits of the Kuwaiti carrier will be transferred to a new company called Kuwait Airways Company KSC, of which Kuwait Investment Authority (KIA) planned on owning 20 per cent.

Kuwait Airways, which made a full-year net loss of $556 million (Dh2.04 billion) in 2010 and carried 2.62 million passengers, hasn’t made profit since the 1990 Iraqi invasion. In January 2008, Kuwait’s parliament decided to sell shares in the airline.

Kuwait Airways Corporation, however, said in May that it is confident of recovering all of $1.2 billion from Iraqi Airways — following a 21-year chase — in compensation from Iraqi Airways Company (IAC) for the theft of 10 aircraft and spare parts seized by Iraq in the 1990 invasion of Kuwait

Established in 1954, the state-owned carrier currently boasts a fleet of 17 aircraft, and is the leading carrier in Kuwait.
$556m

Kuwait Airways loss 
in 2010

2.62m

passengers carried by the airline in 2010

$1.2b

expected in compensation from Iraqi Airways

Back to main page
Kuwait: KIA welcomes 63,000 passengers in 5 days
Kuwait: KIA welcomes 63,000 passengers in 5 days

More than 63,000 passengers used the Kuwait International Airport (KIA) during the Eid Al-Fitr holiday (06/09/2011)
Kuwait Airways panel to assess stake buyout bids
Kuwait Airways panel to assess stake buyout bids

Dubai Kuwait Airways Corporation’s privatisation committee — PrivComm — will assess expressions of interest (EOIs) made to purchase a 35 per cent stake in the carrier following th (01/09/2011)
Jazeera Airways to introduce new on-board meals every month
Jazeera Airways to introduce new on-board meals every month

While most airlines change their on-board meal selections twice a year in line with their schedule changes, award-winning Jazeera Airways announced today that (01/09/2011)
Kuwait Airways to sell $280m stake
Kuwait Airways to sell $280m stake

Kuwait Airways has put up a $280m stake for sale to international carriers and investors, the initial stage of a first airline privatisation for the oil-rich region. (01/08/2011)
Kuwait airport passenger traffic rises 7% in June
Kuwait airport passenger traffic rises 7% in June

Kuwait International Airport has seen an 8% increase in passenger traffic to a (18/07/2011)
2011 KUWAIT INTERNATIONAL RALLY, March 10-12, 2011
2011 KUWAIT INTERNATIONAL RALLY, March 10-12, 2011

QATAR’S NASSER AL-ATTIYAH CONFIRMS 40TH MERC ,VICTORY IN ONE-SIDED KUWAIT INTERNATIONAL RALLY (18/03/2011)
Saneou Al Hadath Unveils the MENA Region’s Top Cities Dubai, Doha and Kuwait
Saneou Al Hadath Unveils the MENA Region’s Top Cities Dubai, Doha and Kuwait

Dubai ranked as region’s top city to live in for the second time Doha number one for education Kuwait City best for business and economy (17/03/2011)
New services in Kuwait Airways Web Site
New services in Kuwait Airways Web Site

Mr. Khaled Al-Woqayan - Information technology director has announced that weather updates for all destinations has been (08/02/2011)

Showing 8 news articles
Back To Top

Kuwait

The news that published in Islamic Tourism Trade Media

    Show year 2011 (8)
    Show year 2010 (0)
    Show year 2009 (1)
    Show year 2008 (5)
    Show year 2007 (3)
    Show year 2006 (6)
    Show year 2005 (3)
    Show year 2004 (4)
    Show all (30)

The articles which appeared in Islamic Tourism magazine

Kuwaite Int'l Travel
and tourism Exhibition
  Issue 12

Kuwait
Int'l Travel & tourism expo
  Issue 7




Select Country News
Country:

Founded by Mr. A.S.Shakiry on 2011     -     Published by TCPH, London - U.K
TCPH Ltd
Islamic Tourism
Unit 2B, 2nd Floor
289 Cricklewood Broadway
London NW2 6NX, UK

Copyright © A S Shakiry and TCPH Ltd.
Tel: +44 (0) 20 8452 5244
Fax: +44 (0) 20 8452 5388
post@islamictourism.com