Iraq, Kuwait ink $500m airline debt deal

15 March 2012

Iraq has agreed to pay Kuwait $300m in cash and to invest another $200m in a joint Iraqi-Kuwaiti airline venture as part of an agreement aimed at resolving a standoff over Gulf War-era debts that had prevented Iraqi Airways from flying to destinations in the West, Reuters has reported. Under the terms of the deal, Kuwait in return would lift legal actions against Iraqi Airways, Iraqi Prime Minister Nuri Al-Maliki's media advisor has said.

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