Quote: Kuwait Airways (KAC) Chairman, Hamd Al Falah, announce that plan for the evaluation of the carrier’s assets could be presented to the Kuwait Communications Ministry by Aug-08, allowing privatization to proceed within ten months.
The regulatory system to evaluate the carrier’s assets has been forwarded to the Kuwait Investment Authority for final approval.
Considering competition and other factors the move seems logical and better for the airlines. The article also mentions that the staff will be retained for 5 years and will have the option of transferring to other government positions.
Ku747 From Kuwait, joined Mar 2008, 368 posts, RR: 0 Reply 2, posted (4 years 10 months 3 weeks 5 days 22 hours ago) and read 1042 times:
As I know the system very well in Kuwait, nothing will be done before 18 months, I will be very surprised if something happens during this period. KU has been talking for months to lease 1 or 2 aircrafts to cover the summer season shortage and demand but still nothing has been done yet. imagine leasing decision takes a very long period!! do you think KU privatisation well be done in 10 months?? NO WAY with all bureaucracy in the system.
Only a miracle would heal KU.