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September 01, 2015 4:56 AM ET

Airlines

Company Overview of Kuwait Airways Corporation K.S.C.

Company Overview

Kuwait Airways Corporation K.S.C. provides airline services. It also offers medical attention and onboard entertainment services. In addition, the company sells accessories, toys, traveler accessories, watches, sunglasses, cosmetics, men’s and ladies’ fragrances, jewelry, electronics, and cigars onboard. It serves frequent flyers, holiday travelers, and special needs passengers. The company was formerly known as Kuwait National Airways Company and it changed its name to Kuwait Airways Corporation in 1955. Kuwait Airways Corporation K.S.C. was founded in 1954 and is based in Kuwait City, Kuwait.

Kuwait Airways Company Building

Al Dajeej Farwaniya Area

Safat

Kuwait City,  13004

Kuwait

Founded in 1954

Phone:

965 434 5555

Fax:

965 431 6581

Key Executives for Kuwait Airways Corporation K.S.C.

Chairman and Chief Executive Officer
Director of Finance Department
Director of Operations Department
Assistant Finance Director of Treasury
Secretarty of Board Members
Compensation as of Fiscal Year 2015.

Kuwait Airways Corporation K.S.C. Key Developments

Kuwait Airways Completes First Phase of Fleet Development

Kuwait Airways received its seventh and last Airbus A320 CEO aircraft, as the outcome of the agreement of leasing 12 Airbus of similar type. This marks the start of the major fleet renewal plan. The A320 single-aisle jetliner family is the single-aisle aircraft family and its versatility will support Kuwait Airways' range of services. The airline has also decided to equip its new A320 fleet with Airbus' innovative Runway Overrun Prevention System (ROPS) technology. This on-board cockpit technology, which Airbus has pioneered independently over several years, increases pilots' situational awareness during landing, reduces exposure to runway excursion risk and if necessary, provides active protection. The new aircraft, which has been leased by Kuwait Airways recently, has a total of 130 seats with 114 Economy Class and 16 Business Class seatings. Kuwait Airways has added these New A320s to Amman, Bahrain, Beirut, Cairo, Dammam, Doha, Jeddah, Medina and Riyadh Middle Eastern sectors. Further, Kuwait Airways has received its second A330 in part of the fleet renewal plan.

Government Approves Structure For The Privatization Of Kuwait Airways

Kuwait's government has approved a new structure for the privatization of Kuwait Airways Corporation K.S.C. Under the new structure Kuwait government will own 75% of the carrier, excluding potential investors such as Jazeera Airways KSC (KWSE:JAZEERA). Under the new proposal, approved by Transport Minister Issa Al-Kandari, 20% of the airline's shares will be offered to Kuwaiti citizens, 5% to current and retired employees, and the government will retain the rest, a statement on Kuwait's news agency (KUNA) website said.

The National Bank of Abu Dhabi and Arab Banking Corporation Arranges $400 Million Loan for Kuwait Airways

The National Bank of Abu Dhabi (NBAD) along with Arab Banking Corporation was mandated by the International AirFinance Corporation (IAFC) as underwriters book runners and lead arrangers on a $400 million senior secured Murabaha loan transaction. The deal which is IAFCrsquo's inaugural syndicated loan will finance the provision of five A330-200 aircraft on an operating lease to Kuwait Airways. The facility comprises an eight-year term loan secured on the five aircraft and is currently in syndication with an expected closing at the end of May. The borrower is a 100% owned subsidiary of a fund managed by IAFC.

Similar Private Companies By Industry

Company Name Region
Kuwait National Airlines Co Middle East/Africa
Aqeeq Aviation Holding Co. Middle East/Africa
National Aviation Company Middle East/Africa
Kuwait Airways Corporation K.S.C. Middle East/Africa

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
May 31, 2015
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