Mubasher: Kuwait Airways is targeting acquiring a 50% market share in Kuwait within the next few years in conjunction with upgrading its fleet and expanding to new destinations, Alanba newspaper reported, citing chairman Sami Al Rushaid as saying.
The company has felt more self-confident after boosting its market share to 35%, Al Rushaid told the Kuwaiti newspaper in an interview.
The board’s strategy involves restructuring the company’s sectors, by increasing profitability, then transforming and separating some sectors into subsidiaries with independent budgets in order to be partly privatised in the future, Al Rushaid said.
Kuwait Airways’ chairman revealed that losses would continue in the next few years, hence, the company would continue depending on government support until it reaches the breakeven point in 2021.
The top official attributed the losses to ticket price reductions and fierce competition.
