Al-Dukhan added, in a press conference on Sunday, that the state-owned company is studying offers from aircraft leasing companies, and that the duration of the aircraft lease contracts, all of which are Airbus 321neo, will range between eight and ten years.
The plan to lease eight aircraft comes in addition to a multibillion-dollar deal that Kuwait Airways concluded with Airbus in 2022 to buy 31 aircraft, of which 18 have already been delivered.
While airlines around the world have been hit hard by the COVID-19 pandemic, many Gulf airlines have seen a rapid recovery in demand and are playing key roles in their governments’ drive to diversify their economies through sectors such as tourism.
Al-Dukhan said that the cost of aviation fuel has increased for Kuwait Airways by 38 percent on an annual basis since the beginning of 2023.
The CEO of the company, Maan Razzouqi, said in the same press conference that Kuwait Airways is in negotiations with the Kuwait Petroleum Corporation about a reduction mechanism to reduce the costs of aviation fuel for the company.
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