Release date: 2017/7/10
Kuwait Airways will start flying again in Kuwait on Tuesday as the third national carrier in the local market after a year of efforts to prepare and prepare for this moment, which is considered a historic moment in the work of the company, after an absence of more than five years from the atmosphere because of the financial crisis .
The first scheduled flights will be launched tomorrow to the city of Tbilisi, capital of Georgia, with three flights per week. The destinations of Kuwait Airways in the first phase will be concentrated in 16 destinations, the most important of which are Cairo, UAE, Beirut, Oman, Iran, India, Pakistan and some European destinations. According to fleet growth.
Kuwait Airways is trying to start working aggressively with its ambitious plan over the next five years after its new owners extinguish its losses and reduce its capital from 50 million Kuwaiti dinars to about 10 million dinars [about $ 32.7 million].
Kuwait's Altwaijri Group succeeded in reviving its national capital and consolidating most of its commitments after its acquisition in August 2016 of the KIPCO stake in 13% of Wataniya Airways, and was able to consolidate other shares to become its largest shareholder.
It also formed a board of directors and pumped the company's shareholders a new liquidity that ended about 96 percent of its financial obligations and is scheduled to raise its current capital to double to 20 million dinars [about $ 65.4 million] after the operation of flights.
The company has prepared a new operational plan based on three axes: combining economic and commercial aviation and starting from the Kuwait market to Gulf, Arab and international destinations, as well as adding competitive advantages and additional services to passengers and working to keep pace with the open skies policy in the country.
The company's return period is expected to be between three and four years, according to the company's plan to list its shares on the Kuwaiti bourse.
The company will start operations on two Airbus A320 aircraft and the fleet will be completed by the end of this year or next year.