KUWAIT, Aug 4 (KUNA) -- Kuwait Airways has appointed Citibank, Ernst Young and Seabury to handle the planned privatization of Kuwait's only national airline.
The contracts with the group, together with the other companies, are to be signed in the next few days in order to enable it to begin its mission mid-August, a Kuwaiti Airways committee said in a release.
The move comes in line with Law 6/2008 as for the privatization of Kuwait Airways to become a shareholding company, it added.
The Kuwaiti parliament had earlier passed a blueprint to privatize the loss-making Kuwaiti national carrier. The Kuwaiti government plans to sell 40 percent of the flag carrier to the public and 35 percent to a long-term investor. - Kuna