Kuwait's government started the sales process of its loss-making national carrier, Kuwait Airways, state-owned Kuwait News Agency (KUNA) reported on Monday, citing the cabinet affairs minister.
Kuwait's parliament in January approved a government plan to sell 40 percent of the carrier to the public and 35 percent to a long-term investor within two years.
The cabinet asked Kuwait Investment Authority, which manages the country's oil-generated surpluses, to have the airline's assets evaluated by international consultancies as a first step towards a sale, Faisal al-Hajji told KUNA.
The carrier, which lost most of its fleet during Iraq's 1990-1991 occupation of Kuwait, has 17 aircraft, according to its web site.
Kuwait cancelled an order worth USD$3 billion for 19 Airbus and Boeing planes with Kuwait's Aviation Lease & Finance Company (Alafco) in August after parliamentarians blocked the deal.
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