Kuwait Airways Chairman, Hamad al-Falah has said the Kuwait Investment Authority (KIA) has been authorized to establish a public company to hold the airline's assets, Bloomberg has reported. The cabinet "is going ahead with the privatization and the KIA has taken over the process of the legal matter to transfer the company," al-Falah said. The new airline company, Kuwait Airways Co will be established with capital of KD220m ($764m), he said.
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