Kuwait Airways Corporation (KAC) recently acquired Terminal 4 of the Kuwait International Airport on lease for one million dinars annually. The airlines have reported an increase in revenue by 10% in 2022 as compared to pre-pandemic level and about 115% compared to 2021. The company’s profitability margin improved by 40% in 2022 compared to 2019 levels and 37% compared to 2021.
The airline also reported a rise in passenger traffic at Terminal 4 by 26% in 2022 compared to 2019, and to 229% compared to 2021.
KAC further revealed that the airline 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.
The company is expected to receive the largest number of new aircraft in 2024.
Ali Al-Dukhan, Chairman of the Board of Directors of Kuwait Airways Corporation, said: “Our ambition is great for the next year, as we expect a growth in passenger traffic of approximately 4.5 million passengers, and an increase in operations by more than 30 percent.”
Going ahead, the company plans to launch flights to new destinations such as Athens, Antalya, Taif, Qassim, Al-Ula, Barcelona, Budapest and Berlin and is currently working on preparing its strategy for the year 2030 to be completed during the first quarter of this year.
Meanwhile, KAC also sold one of its Boeing 777 aircraft, which will go to its new owner in less than a month, and it has also offered to sell three Airbus A340 aircraft, which is expected to be sold by the middle of summer.