Wednesday, Jun 29, 2011
BEIRUT (Zawya Dow Jones)--Kuwait's Alafco Aviation Lease and Finance Co.'s talks with Kuwait National Airways are still underway and there are positive steps towards solving the disagreement regarding the carrier's debt, Kuwait-based Al Seyassah daily reports Wednesday citing an executive.
Alafco is open to dialogue with Kuwait National Airways and all options are possible, Ahmad Al Zabin, chairman and managing director of the aircraft lessor, told the paper.
Zabin said that he has no objections to finding solutions that will be satisfactory to both parties and that he is willing to discuss all required measures regarding the debt, the daily reports.
The carrier, also known as Wataniya Airways, said last week that it had scrapped a plan to increase its capital by 15 million Kuwaiti dinars ($54.58 million) because it hadn't been able to reach an agreement with Alafco. The airline said earlier that the resumption of its operations depends on whether its shareholders approve the capital hike.
Newspaper website: http://www.al-seyassah.com/AtricleView/tabid/59/smid/438/ArticleID/146097/reftab/76/Default.aspx
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
29-06-11 0549GMT
