Kuwait Airways said that losses incurred in 2018 were a result of investments made to revamp the state carrier’s fleet, improve services and increase its destinations amid an ongoing plan stretching to 2026.
In a statement issued in response to social media claims regarding the 2018 financial results, the carrier said cutting costs would limit these losses and achieve profit within a short time span. The airline underlined it was determined to maintain the momentum of carrying out tangible developments in its performance for the Kuwaiti state carrier to be in a leading position. “The company’s long-term financial plan envisages an increase in aircraft fleet, increased flight services to profitable sectors and cost optimisation with an aim to improve revenue and operational profits,” it had earlier said in its full-year statement. The airline, founded in 1953, currently flies to 50 global destinations.
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