Kuwait Airways to be privatised by year end

21 June 2009

Kuwait's Minister of Communications, Dr. Mohammed Al-Busairi, has said that Kuwaiti Airways (KAC) will be fully privatised by the end of the year. According to Act No 6 2008 that was adopted by the country's government last July, an investor may acquire a 35% stake in new company's capital, the government 20% and the staff of the company 5%, while the remaining 40% of shares will be available for the public to buy. Kuwait Investment Authority will run the KAC privatisation process, while Ernst and Young is tasked with the management of data and information collection, because of its extensive operations.

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