Kuwait Seeks Investor to Buy 35% of Kuwait Airways, End 20 Years of Losses

August 1, 2011 - 13:10
Kuwait is seeking bids to sell 35 percent of Kuwait Airways Corp. as the OPEC oil producer searches for strategic investors to return the national flag carrier to profit.

Kuwait’s parliament in January 2008 decided to sell shares in the airline, which hasn’t had a profit since the 1990 Iraqi invasion. The government planned to offer 40 percent of the stock to the public, 35 percent to a strategic investor and 5 percent to employees, and keep the remainder.