Beirut: Kuwait National Airways, which suspended its operations last month, yesterday, said it lost 6.42 million Kuwaiti dinars (Dh85.14 million) for terminating leasing agreements for four aircraft from International Lease Finance Corp and AerCap Aviation Solutions.
The carrier, better known as Wataniya Airways, said in a statement posted on the Kuwait bourse website that the local Alafco Aviation Lease and Finance Co also has demanded that Wataniya pay $70 million for terminating lease agreements for three airplanes. Wataniya said it will enter negotiations with Alafco over the claim.
The airline said in the statement that its board, which met on Wednesday, has postponed to Monday a decision on whether it should resume its operations.
Wataniya also said that it will study what impact, the planned conversion of Kuwait Airways Corp into a private sector shareholding company, will have on the possible resumption of its operations.
The carrier said last month that due to its current financial situation and the unavailability of fair commercial conditions to conduct its business, and because of the current economic, political and security circumstances in the region, it decided to suspend all operations.
Wataniya, whose shares were suspended from trading at its own request, said last week its 2010 full-year loss widened to nearly 14.1 million dinars.
