The cabinet tentatively decided to privatize the national airlines, the Kuwait Airways Corporation, KUNA reported. The government, during a marathon session that proceeded till early Monday, reviewed results of assessment of condition of the KAC on the basis of studies, conducted by specialized international consultancy agencies. Managing Director of the Public Investment Authority (PIA) Dr. Bader Mohammad Al-Saad, with presence of the executive manager of the general reserves department, Bader Ajeel Al-Ajeel, and the advisor of this sector, Nouri Al-Salem, presented the executives with the adopted assessment methods and the attained results, on the basis of the tasking that had been granted to these consultancy houses. Moreover, necessary steps for the implementation of the law number 6 of 2008 regarding the transformation of the KAC into a shareholding company were reviewed during the marathon session. Furthermore, the government discussed a recommendation by the committee of economic affairs regarding the privatization of the airways corporation, and tentatively approved a cabinet draft resolution with respect to the issuance of rules and executive measures of the law number 6 of 2008. The council also tasked the PIA to complete legal procedures to transform the corporation into a shareholding Kuwaiti company under the name, the Kuwaiti Airways Corporation, so it may undertake its tasks according to the mentioned law.
