Kuwait Airways Aims to Lease Eight Airbus Aircraft Over a Decade

Kuwait’s state-owned carrier, Kuwait Airways, has unveiled its intention to secure the lease of eight Airbus passenger jets within the span of ten years, according to a statement by Chairman Ali Aldokhan on Sunday.

The airline is actively evaluating offers from various leasing companies. The envisaged lease contracts, encompassing exclusively Airbus A321 neo aircraft, are slated to endure for durations ranging from eight to ten years, Aldokhan shared during a press conference.

This commitment to lease eight aircraft complements Kuwait Airways’ substantial 2022 agreement with Airbus, which entails the acquisition of 31 planes. Of this total, 18 aircraft have already been delivered.

While the global airline industry faced severe setbacks during the COVID-19 pandemic, several Gulf carriers, including Kuwait Airways, have witnessed a rapid resurgence in demand. These airlines are also pivotal in their governments’ strategic efforts to expand their economies into sectors like tourism.

Kuwait Airways has encountered a notable 38% year-on-year increase in jet fuel costs since the outset of 2023, Aldokhan pointed out.

Furthermore, discussions are underway between Kuwait Airways and Kuwait Petroleum Corporation to establish a discount mechanism that would alleviate the airline’s jet fuel expenses. CEO Maen Razouqi shared this development during the same press briefing.