LATEST NEWS
      
Today : Dhaka
 
36° C
28° C
  
 
  Volume: XX, Issue No. 02 September 1-15, 2010  
     
 
  AVIATION
  Kuwait Airways projects loss of US$179m this year

_A Monitor Report
Kuwait City : Kuwait Airways Corp, the state-owned carrier being prepared for sale, has a projected loss of KD52.2m (US$179m) in the fiscal year through March 2011.

Revenue in the current fiscal year is forecast at KD247.3m and expenditure at KD299.5m, according to a copy of the budget approved recently by parliament.

Kuwait Airways hasn't made a profit since the 1990 Iraqi invasion of the emirate.

Kuwait Invest-ment Authority, the country's sovereign wealth fund, was authorised to establish a company to hold the airline's assets, KAC Chairman Hamad Al Falah said in a March 4 interview. The fund is forming a committee that has one year to implement the privatisation, Al Falah said.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
© 2001-2009, All rights reserved, The Bangladesh Monitor, City Heart (9th Fl), 67 Naya Paltan, Dhaka-1000, Bangladesh;
Telephone: 88-02 - 8351148, 9334963, 9330676 Fax: 880 2 8314306; Web: http://www.bangladeshmonitor.net, Email: news@bangladeshmonitor.net, monitor@bangla.net
monitor@bol-online.com; Publisher: Syeda Gousia Abed, Chief Editor: Raquib Siddiqi, Editor: Kazi Wahidul Alam; Printed at Prime Art Press Ltd. 70, Naya Paltan, Dhaka-1000.