Kuwait Airways announced that its annual revenues grew by 16% last year, compared to the previous year, to reach 335 million dinars ($1.095 billion).
In a statement, the company quoted the Chairman of the Board of Directors, Abdul Mohsen Salem Al-Faqaan, as saying – before the Kuwait Airways General Assembly – that the number of passengers reached 4.55 million passengers in 2023, with a growth of 29% on an annual basis.
The number of flights reached 32,839 flights in 2023, an increase of 26% year on year.
Kuwait Airways incurred a net loss of 55 million dinars in 2022, but announced that it aims to achieve its first profits in 2025.
Airlines in the region, like their global counterparts, were severely affected by the Corona pandemic, but many Gulf airlines witnessed a rapid increase in demand and became major players in the direction of diversifying the economy in sectors such as tourism.
Kuwait Airways intends to increase the number of passengers to 5.5 million by 2025.
Al-Faqaan said today, “Kuwait Airways is moving steadily towards implementing its strategic plan for the coming period.”
He explained that Kuwait Airways received revenues from the government amounting to 78.5 million dinars last year, and also received the last two new Airbus A320 aircraft, bringing the company’s possessions of this type to 9 aircraft.
