Kuwait National Airlines said on November 23 that it will list the shares of Wataniya Airways, its full service luxury airline, on the Kuwait Stock Exchange on December 15.
The company’s listing on KSE would be managed by Kipco Asset Management Company, or Kamco. KSE raised 500 million Kuwaiti dinars in an initial public offering (IPO) in 2006.
Wataniya Airways plans to start operations in February 2009 with Dubai as its first destination. The airline said it would operate two flights a day from Kuwait to Dubai from the new Royal Terminal in Kuwait.
“Dubai is the ideal first destination given the high volume of business and leisure travel to the city and, in the coming weeks, we shall be announcing further destinations to come on stream before the end of February,” said George Cooper, Wataniya Airways’ Chief Executive Officer.
Source: Emirates Business 24/7
