Kuwait City, June 21 (IANS) Kuwait's national carrier Kuwait Airways incurred a loss of 76 million dinars (around $275 million) in 2010, the official KUNA news agency reported.
Kuwait Airways attributed the huge loss to the cost of maintenance and fuel. It had posted a loss of 55 million dinars (around $199 million) in 2009.
The carrier has been in the process of privatisation since 2007.
Minister of Information and Communication Sami Al-Nisf said modernising the carrier was vital for attracting strategic investments.
Kuwait Airways was established in 1954. Oil-rich Kuwait has two other private carriers, Wataniya Airways and Jazeera Airways.