Agility Logistics eyes 35% stake in Kuwait Airways
Plans to privatise Kuwait Airways has attracted interest from various quarters, most recently from Kuwait-based, global logistics firm, Agility Logistics.
December 15, 2014
Plans to privatise Kuwait Airways has attracted interest from various quarters, most recently from Kuwait-based, global logistics firm, Agility Logistics. Agility’s CEO Tarek Sultan told Reuters that the move to acquire the 35 per cent stake available to local investors was based on his company’s strategy of expanding into aviation services. Other parties that have expressed interest include Kuwait Airways’ rival Jazeera Airways which is also based in Kuwait.
Meanwhile, Kuwait Airways has announced plans to buy 10 B777-300ER passenger aircraft upgrade its fleet, worth US$3.3 billion at list prices. The carrier will begin taking delivery of these aircraft from November 2016 and they will also help Kuwait Airways launch new routes, Rasha al-Roumi, chairwoman and managing director of Kuwait Airways said in a statement by Kuwait News Agency.
The carrier operates a mixed fleet of 17 aircraft including: A310/230s, A300- 600s, A340s, and one B777-200ER. Aside from the new order, Kuwait Airways has existing orders for 10 A350- 900s and 15 A320neos.