Iraq approves $500m deal with Kuwait Airways to end dispute

26 July 2012

Kuwait Airways is seeking $1.2bn in compensation for Saddam-era invasion

Iraq’s cabinet has approved an allocation of $500m from the budget to resolve a dispute with Kuwait over the debts of Iraqi Airways.

Government spokesman, Ali al-Dabbagh announced the cabinet’s approval, Bloomberg reports.

The cabinet asked parliament to approve the allocation of $300m from the 2012 budget and another $200m the following year, Al-Dabbagh said.

State-run Kuwait Airways Corporation (KAC) is seeking $1.2bn in compensation for 10 aircraft taken during the Iraqi invasion of Kuwait in 1990.

A MEED Subscription...

Subscribe or upgrade your current package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications