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Agility Eyes 35% Stake Buy In Kuwait Airways -Report

Agility Eyes 35% Stake Buy In Kuwait Airways -Report

The firm’s chief executive said in an interview that Agility’s plan was based on his company’s strategy of expanding into aviation services.

Kuwaiti logistics firm Agility is interested in competing to buy a 35 per cent stake in loss-making state carrier Kuwait Airways, local news service al-Rai quoted Agility’s chief executive as saying.

Tarek Sultan said in an interview that Agility’s plan was based on his company’s strategy of expanding into aviation services, al-Rai reported. An Agility spokeswoman declined to comment.

Kuwait’s parliament first approved a plan in 2008 to privatise struggling Kuwait Airways by offloading 35 per cent of the company to specialised local or international firms. But the process has repeatedly been held up.

“We don’t know the reason for all these delays although the state’s plans to privatise the company are clear and have been announced and are according to a law that should be executed,” Sultan told al-Rai.

The privatisation scheme now appears to be moving ahead again – though a firm date for a bidding exercise has not been announced – and the chairman of Kuwaiti budget carrier Jazeera Airways, Marwan Boodai, told Reuters last month that his company was preparing to bid for a big stake in the carrier.

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