KUWAIT: Kuwait Airways Chairman Captain Ali Al-Dukhan announced on Sunday that Kuwait Airways reduced its losses to 50 percent from KD 107 million ($347 million) to KD 55 million ($178.4 million) in 2022. “Kuwait Airways has achieved positive results which were better than what was expected in 2022 as total passenger revenues reached KD 289.1 million, showing an increase of 11 percent.

The number of passengers reached 3.5 million, which is an increase of 2percent,” Al-Dukhan said in statement after the corporation’s Annual General Assembly meetings. Kuwait Airways operated approximately 25,000 flights, marking an increase of 5 percent with the percentage of occupied seats reaching 69.7 percent, which is an increase of 2 percent, he added.

“Kuwait Airways has extended the contract for the lease of seven A320 aircraft up to the year 2024, which increases the number of flights, operations to new destinations and meets the requirements of valued customers.”

Kuwait Airways CEO Maen Razouqi said the company’s debt is now less that KD 50 million, noting that profits exceeded KD 400 million ($1.3 billion) by the end of 2022. He expected that Kuwait Airways passengers will increase to 5.5 million as it now operates to 58 direct destinations with 105 flights per day. – KUNA