Kuwait's Jazeera Airways is “definitely” interested in investing in soon to be privatised, loss-making airline Kuwait Airways, the low-cost carrier's chairman told Arabian Business.
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“Yes I would definitely focus on investing more on aviation in Kuwait, subject to a clean clear balance sheet,” Marwan Boodai, chairman of Jazeera Airways, said in an interview, when asked if he was interested to invest in rival Kuwait Airways, which is due to be privatised by thegovernment within the next three years.
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“Like any investment you have to look at what the balance sheet is like and then you have to decide if yes it is worth investment,” he said.
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“If you look at Kuwait Airways’ balance sheet for the last five years when they decided to privatise it, the Kuwait Investment Authority, along with Citibank, they didn’t do the brightest job, they should have sold it years ago.
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Read more: http://www.arabianbusiness.com/jazeera-airways-eyes-kuwait-airways-stake-488667.html
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