March 6- Kuwait’s largely unprofitable airline, Kuwait Airways, is getting closer to being closed as the Kuwait Investment Authority has set up a company to hold its assets, said the airline Chairman Hamad Al Falah. The company has one done to complete the privatisation process and the new company will be named Kuwait Airways Co.
Kuwait Airways has not made any profit since the Iraqi invasion in 1990. Thus, it was in January 2008 that Kuwaiti parliament decided to sell 80 per cent of the shares invested in the airline.