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Kuwait Airways to Acquire Terminal 4

  • Publish date: Friday، 27 January 2023
Kuwait Airways to Acquire Terminal 4

Kuwait Airways will acquire the “T4” building said Captain Ali Al-Dukhan, chairman of the board of directors at Kuwait Airways Company (KAC) during a press conference held by the company announcing its 2022 financial results.

The terminal (T4) is currently operated by a Korean company until August 2023 and has been rented by Kuwait Airways for about KD 1 million annually.

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KAC revenues climbed by 10 percent compared to 2019 and 115 percent compared to 2021. The profit margin also improved by 40 percent compared to 2019 and 37 percent compared to 2021. Passenger traffic at “T4” grew by 26 percent during 2022 compared to 2019 and to 229 percent compared to 2021.

Razouqi added that the company is currently preparing its strategy for the year 2030, to be completed during the first quarter of this year, revealing that it sold one of its Boeing 777 aircraft, which will go to its new owner in less than a month. Kuwait Airways also expects to sell three Airbus 340 aircraft by mid-next summer.

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