Mubasher: Kuwait Airways currently invests in three companies listed on Boursa Kuwait with operational business alike Kuwait Airways, as reported by Al Anba Newspaper, according to an official document.
The Kuwaiti airline company pumped KWD 44.5 million as investments in Aviation Lease and Finance (Alafco), Automated Systems, and Mashaer Holding Co in which Kuwait Airways owns stakes of 10%, 68.5%, and 5.8%, respectively.
Kuwait Airways’ investment portfolio is distributed as 75.8% in Alafco with 93.9 million shares valued at KWD 33.8 million, 22.9% in Automated Systems with 68.5 million shares worth KWD 10.2 million, and 5.79% in Mashaer with 10.3 million shares values at KWD 550,000.
The market value of the shares affiliated to Kuwait Airways by 13.6% to total KWD 44.5 million by the end of fiscal year 2017 or 1.17% of the total market value of governmental shares traded on Boursa Kuwait.
A net income of KWD 5.4 million has been achieved, representing 1.1% of the total profits registered by governmental institutions, Al Anba added.
