The operation, according the airline’s Yousef A. M. J. Alsaquer, will be financed with bank loans, the airline’s own capital and through the sale and re-leasing of the carrier’s planes, Zawya news reports.
The Kuwaiti official was speaking at Kuwait International airport on Saturday as the airline received its first new Airbus A320neo jet.
The jet is part of the 28 aircraft commissioned by the carrier.
The airline has made installments for the purchase, Alsaquer reportedly added.
“So far we don’t have an agreement with a particular bank or a certain funding body, but everything is planned,” he said.
TThe batch of aircraft will include 15 of the A320neo jets at $60 million each, eight A330-800 aircraft at $100 million each and five A350-900 planes, each priced between $130 million and $150 million, Alsaquer further noted.
With around 43 destinations, Kuwait Airways targets 5 million passengers this year, up from 4.1 million passengers in 2017.