| 26 Jul 2010 |
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KAC said to be facing cash problems - 'Salaries difficult to pay'
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KUWAIT CITY, July 26: Kuwait Airways CorporationKuwait Airways Corporation
(KACKAC) is reportedly facing a cash crunch and is waiting for the Cabinet's approval to secure a loan or use bank overdraft facility to pay salaries of employees in the incoming months, reports Arrouiah daily.A source said KACKAC
will manage to pay salaries for the month of July by deferring payments to suppliers and service providers, but "paying August salaries will prove difficult."Meanwhile, the corporation earned KD 135.8 million by selling 1.8 million tickets to travelers from Kuwait within the first half of the year. This is a 9.53 percent growth compared to KD 123.9 million made by selling 1.13 tickets during the same period last year.
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