Airline
Deficit budget passed for Kuwaiti national carrier
June 30 - Kuwait parliament on Tuesday passed the 2010-2011 budget of state-owned Kuwait Airways Corporation (KAC) with a projected deficit of $180 million.
Revenues for the privatisation-bound airline are projected at $853 million while expenditure is estimated at 1.033 billion dollars. The fiscal year runs from April 1 to March 31, 2011.
KAC chairman Hamad al-Falah said the national carrier incurred a loss of $189 million in the previous fiscal year.
The carrier has posted a loss in all but one of the past 20 years, accumulating losses of more than $2.5 billion.
Parliament however rejected a recommendation from opposition MPs that called for suspending the privatisation of KAC until the accounting watchdog Audit Bureau conducts a probe into graft allegations in the airline.
More Airline
Latest Travel News
Featured Sights To See
Ban Thai Museum
Bangkok, Thailand
This is a fantastic museum showcasing Thai culture and living across various time periods. The garden is not to be missed; beautiful native Thai flowers are grown here. This museum was Jim Thompson's House. Thompson who hailed from New York was stationed in Thailand during WW II and later settled in Bangkok where he revived the Thai silk industry. Art pieces collected by Jim Thompson are also exhi...
Field Museum
Chicago, United States
Chicago's Field Museum of Natural History was founded in 1893 during the Colombian Exhibition. It was moved to its current location in 1921 and is named for Marshall Field, the museum's first benefactor and retail giant Marshall Field. The magnificent Classical Revival building is located along Lakeshore Drive in Chicago's Museum Campus, along with the Shedd Aquarium and the Adler Plan...
The Diamond fund
Moscow, Russia
This is home to the Crown Jewels. Catherine the Great's coronation crown and an 89 carat diamond gifted to Nicholas I by the Shah of Persia are just some of the sparkling jewels housed here. Admission: $20 Tel: 095/229-2036 ...
Museum of Ancient Architecture
Beijing, China
This museum should definitely be visited as it houses some of the most magnificent ruins and remnants of famed Chinese architecture. The halls which store these treasures are themselves historically significant as they were once part of the Altar of Agriculture where Chinese emperors came to pray during plantation and harvesting season and performed rituals pertaining to these. The Hall of Jupiter...