Acquiring T4 terminal will benefit Kuwait Airways financially

Acquiring T4 terminal will benefit Kuwait Airways financially

Chairman of the Board of Directors of Kuwait Airways Corporation (KAC) Ali Al-Dukhan revealed that KAC acquired Terminal 4 of the Kuwait International Airport, which was renting it for one million dinars annually. This would reflect positively on the company’s profits starting next year and enhance its operational performance, reports Al-Qabas daily. During a recent press conference held by the company in the presence of its CEO Maan Razzouqi and a number of members of the Board of Directors, Al-Dukhan explained that the company achieved an increase in its revenues by ten percent in 2022 compared to 2019, and 115 percent compared to 2021. The profitability margin improved to 40 percent in 2022 compared to 2019, and to 37 percent compared to 2021. Passenger traffic in Terminal 4 grew by 26 percent in 2022 compared to 2019, and to 229 percent compared to 2021.

The company received three new aircraft this year – one Airbus A320NEO, and two Airbus A330NEO. It also launched new destinations, such as Manchester, Madrid, Casablanca, Trabzon, Mykonos, Kuala Lumpur, and Hyderabad. Its commitment to the discipline of fl ight departure times was 86 percent in 2022, leading to the national carrier being placed in third position