Kuwait Airways to Get $128 Million Boost From KIA , Watan Says

Kuwait Investment Authority will contribute 35 million dinars ($128 million) to make up for a decline in Kuwait Airways Corp.’s market value, Al-Watan reported, citing a report by the fund.

The value of the state-owned carrier being prepared for sale dropped to 185 million dinars from 220 million dinars, according to the newspaper. The wealth fund’s contribution is a step toward the carrier’s sale, Al-Watan said.

To contact the reporter on this story: Dahlia Kholaif in Kuwait at dkholaif@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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