Kuwait: Kuwait Airways held its ordinary general meeting on Wednesday for its financial year ending 31 December 2021. At this meeting, all items on the agenda were approved, including financial and management reports. It also reviewed the Board’s annual report and 2021 performance in the presence of Kuwait Airways Chairman of the Board Ali Al-Duhan and Chief Executive Officer Maen Razuki.
At a press conference after the general meeting, Mr Dokan said the losses incurred by the airline during 2019 amounted to KD 107 million, and the airline aims to halve the loss by the end of 2022 and reach a financial recovery by 2022. He added that he expects the above loss to be zero. 2024. He said Kuwait Airways aims to reorganize its airline fleet to consist of his 60% of small aircraft and his 40% of large aircraft. This increases flight preparation flexibility and reduces freight and operating costs. Percentage of aircraft fleet development plans.
Mr Dokan said the board has taken several steps, including planning for future fleet expansion given the arrival of six new Airbus 320 aircraft out of 15 and two Airbus A330-800 aircraft out of eight. He pointed out that some achievements have been achieved. This is in addition to communications the airline has had with Airbus Industries to speed up the delivery of Airbus orders signed in 2014 and modified in 2018.
“The Council has successfully re-acquired European Union Aviation Safety Authority (EASA) approval to re-approve and submit to the General Investment Authority immediate maintenance procedures and work plans for aircraft of other airlines. Kuwait Airways has launched a digital transformation program to develop a working system to reach the highest level of customer service, and has also signed a contract to supply equipment for emergency training procedures.
This was done in collaboration with the Direct Investment Promotion Department,” said Dukhan. “Kuwait Airways has worked hard to improve the level of service at Kuwait International Airport (T4).As a result, the airline has been able to maintain a high percentage of scheduled flight departures without delays. It was amazing,” he said.
“Kuwait Airways is not currently seeking funding,” Razouqi said. “Kuwait Airways is currently in a sound financial position. Therefore, in 2022, we will not seek funding from any entity, neither from the authorities nor from banks. We are building a strategy, and that strategy includes funding with pragmatic operational strategies,” he noted. “Recent achievements have been achieved in a very challenging operating environment for the aviation industry. Jet fuel prices have increased by 40%, representing 30% of total costs. We have been able to reduce our costs significantly.”
Razouqi said: , medium and long term. Kuwait Airways therefore pays close attention to customer comfort and service, offering them the opportunity to travel to their desired destination on Kuwait Airways planes. “
“In line with its plans to expand its network, Kuwait Airways will open eight new destinations in its winter schedule, including Maldives, Abu Dhabi, Kuala Lumpur, Addis Ababa, Madinah, Taif, Hyderabad and Kathmandu. , due to growing demand for these two destinations and their importance to our valued customers, we continue to operate our two previously served destinations, Madrid and Izmir, throughout the year. ”