A shareholder assembly of state-owned Kuwait Airways Company has authorised an accounting transfer to extinguish 300 million dinars ($983 million) of collected losses by way of a capital discount, the official gazette Kuwait Alyawm reported on Sunday.
The KAC beforehand had stated it goals to interrupt even in 2025 after years of collected losses. The airline has not disclosed its monetary outcomes for 2023 and 2024.
Regional carriers, like their international friends, had been hit exhausting by the COVID-19 pandemic, however many Gulf airways have since seen a powerful rebound in demand and have turn out to be central gamers in broader regional financial diversification efforts, in areas akin to tourism, in keeping with Reuters Gulf Currents e-newsletter.
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