Manufacturing Industry
High fuel prices may widen Kuwait Airways' loss - claim
Airline Industry Information, July 19, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
Losses at Kuwait Airways for the year ended March 2006 may widen if jet fuel prices remain high, its chairman said.
Kuwait Airways is greatly impacted by the high jet fuel prices as it is the main purchaser of jet fuel from the Kuwait Aviation Fuelling Company (KAFCO). Because of the high fuel prices, the carrier's losses for the fiscal year 2005-2006, previously estimated at KWD28m, are expected to increase to KWD40m, the chairman said.
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