KAC official urges reduction on jet fuel price

A senior official from the Kuwait Airways Corporation (KAC) urged on Sunday concerned authorities to further reduce the jet fuel prices at the Kuwait International Airport, the official KUNA news agency reported.

Sheikh Talal Mubarak Al-Sabah, Chairman and Managing Director of KAC, said that extra reductions of fuel prices are important and should be considered as soon as possible to avoid affecting the aviation movement at the airport.

Sheikh Talal said the expenses caused by high jet fuel prices has affected the KAC with an estimated 28 million Kuwaiti dinars (95.2 million US dollars) loss, which will be added to Kuwait Airways' losses for the year 2005-2006, and is expected to reach to 40 million dinars (136 million dollars).

He said the higher expected losses will come despite imposition of fuel charges on airplane ticket purchases that cover 30 percent of the rise in jet fuel prices.

Sheikh Talal stressed that the KAC is aimed at decreasing its running expenses for the year 2005-2006 and further developing its activities to make profits in 2006-2007.

Kuwait has to look into the issue to allow Kuwait Airways function more positively, make profits, and increase its flight movement, Sheikh Talal said.

Source: Xinhua