Kuwait Airways posts massive losses
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Kuwait Airways has attributed an almost US$189 million loss in 2009 to a combination of escalating fuel costs and fierce competition among regional airlines leading to ticket discounting.’The increased supply and competitive prices of airline tickets caused additional KD19m losses, although we achieved an increase of 92m in the number of passengers compared to 2008,” Hamad Al-Falah, chairman of Kuwait Airways, told the Kuwait Times. Kuwait Airways has faced increased competition in recent years from rivals including domestic challenger Jazeera Airways.
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