<table dir="lTR" border="0" cellpadding="3" cellspacing="0" width="100%"><tr><td class="news-article-time" align="Left" valign="middle">20/01/2013 12:35:00</td> </tr> </table>
|BAGHDAD / NINA / A Kuwaiti official source announced that Iraq will hand over compensation of Kuwait Airways early next week.|
Kuwaiti Foreign Minister, Sabah Al-Khalid announced the approval of
Kuwait to settle the issue of compensation of Kuwait Airways in 23 ,
October 2012, and Emir of Kuwait signed an Emiri Decree approving the
financial settlement reached between the two sides where Iraq pays / 500
/ million dollars in final compensation to Kuwait Airways. / End
BREAKING NEWS . Kuwait receives compensation half a billion dollars from Iraq to Kuwait Airways.
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22-01-2013 | (Voice of Iraq)
Term Press / Baghdad
Kuwaiti media sources reported on Tuesday that the Kuwaiti National Assembly approved, the vast majority of the Convention liquidation debts Iraqi Airways, confirmed that the council referred the decree law of the Convention to the Government for approval.
The Kuwaiti media sources, that "the Kuwaiti National Assembly in its regular day forwarded to the Government draft law No. 23 for the year 2012, approving the settlement agreement between the Government of Kuwait and the Iraqi government and private financial compensation for Kuwait Airways."
The sources added that "46 members out of the audience The 48 members have ratified the Convention on the settlement with two abstentions on the decree."
And Kuwait filed a lawsuit for damages suffered by the aircraft as a result of the Iraqi invasion in 1990, demanding payment of one billion and 200 million dollars for Kuwait Airways.
But Iraqi-Kuwaiti relations witnessed recently advanced in relation to solving some outstanding problems, as the parties agreed during the visit of Prime Minister Nuri al-Maliki last of Kuwait on the fourteenth of March last, to end the issue of compensation for airline Kuwaiti and maintenance of border markers, as It was agreed on the basis of common frameworks to solve all the files within short time scales, with the exception of Foreign Minister Hoshyar Zebari, who accompanied Maliki on the trip to what has been agreed upon is significant progress with regard to the exit of Iraq from Chapter VII.
As a result, Kuwait announced on the third of April, its intention to reopen the line to fly with Baghdad in the coming days for the first time in more than 21 years, promised that action is the culmination of efforts between the two countries in order to strengthen relations.
Kuwait has sent a formal letter to Iraq at the beginning of last November proved the settlement of the issue of compensation due to the Iraqi Airways to pay the last $ 500 million in favor of Kuwait Airways.
The Ministry of Foreign Affairs announced in (October 2012) that the Emir of Kuwait and formally agreed to settle the issue of compensation Kuwait Airways incurred owed by Iraq, including bringing all restrictions and complications for efforts to rebuild the Iraqi Airways and freedom to buy new planes and create a fleet.
Following the decision of the Kuwaiti Council of Ministers approved the Iraqi in the 20/11/2012 allocation of $ 500 million in the budget year 2013, to settle the issue with Kuwait Airways, while announced authorize an adviser to Prime Minister for Legal Affairs negotiation and agreement.
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Iraqi Airways agreed in July to pay the compensation to KAC for damages caused by Saddam Hussein’s troops during the 1990-91 invasion of Kuwait. Kuwait says 10 of its planes as well as aircraft parts were plundered after its airport was seized during the invasion, reports AFP.
Kuwait’s Communications Minister, Salem al-Othaina, who also chairs KAC, said Iraq has deposited the full $500 million in a special bank account, and this will be available for Kuwait to withdraw following ratification of the settlement.
The settlement amounts to less than half of the $1.2 billion KAC claimed it was owed.
Several outstanding issues are still to be sorted out between the two Arab neighbours including the payment by Baghdad of around $20 billion in war reparations and about $16 billion in debt.