Al-Fuqan: Not restricting the Kuwaiti Stock Exchange in its operations grants it greater authority for operational planning and execution

This came during an interview with KUNA on the occasion of the issuance of Decree-Law No. 77 of 2026 concerning the conversion of Kuwait Airways into a wholly state-owned joint-stock company.

Al-Faqean stated that this transformation supports the implementation of the company’s strategy by operating within a legal framework aligned with the provisions of the Companies Law, while also enhancing governance in line with the state’s direction toward updating the legal system and strengthening institutional efficiency.

He added that this transformation establishes a more sustainable institutional model for managing the company and provides it with better tools for long-term planning, helping it execute its strategic plans more efficiently and achieve a balance between maintaining its role as a national carrier and continuing institutional and operational development in accordance with the requirements of the modern aviation sector.

He clarified that this decree represents an important milestone in Kuwait Airways’ journey, reflecting the state’s commitment to developing the national carrier in line with best institutional and legislative practices, and enhancing the company’s ability to continue evolving in a sector experiencing rapid regional and international changes.

He pointed out that the next phase requires continuing to implement strategic plans, enhancing operational efficiency, improving service quality, and investing in human resources and modern technologies, all of which contribute to strengthening the company’s position and consolidating its role as a national carrier that aligns with the aspirations of the State of Kuwait and its future vision for the air transport sector.

Regarding the granting of unrestricted powers to the company to conduct its operations, Al-Faqean noted that these aim to provide greater flexibility in managing its affairs and executing operational and investment requirements within approved legal frameworks, helping it respond more efficiently to the needs of the air transport sector and supporting the implementation of its current and future projects.

He mentioned that these powers also grant the company greater ability to plan and execute projects according to its operational needs, while streamlining certain administrative procedures related to project implementation, thereby supporting faster execution and raising institutional performance efficiency.

Al-Faqean anticipated that these powers would contribute to enhancing operational efficiency by facilitating procedures related to business management, decision-making, and drawing up future plans, as they give the company greater capacity to keep pace with operational changes and respond to market requirements more flexibly, while complying with governing regulations and laws.

He noted that the aviation sector requires swift responses to new operational and commercial developments, explaining that enhancing administrative flexibility supports the company’s ability to execute its plans more efficiently and respond to opportunities and challenges more effectively.

He clarified that the unrestricted powers provide greater flexibility in managing the company’s affairs, which may support the implementation of future plans such as purchasing or leasing new aircraft or opening new routes, as approved by the Board of Directors and executive management according to operational needs and economic studies, in line with the company’s strategy and market developments.

He added that this transformation provides an institutional and regulatory framework that supports improved efficiency and higher performance levels, which may positively impact financial results in the medium and long term, alongside the plans and procedures the company is implementing to achieve its strategic objectives.

He noted that this transformation is expected to support the company’s activities by providing a more flexible regulatory environment and enabling it to conduct its operations within a modern institutional framework, helping it keep pace with the rapid changes witnessed by the air transport sector.

He emphasized that any institutional transformation does not yield immediate results but instead creates an appropriate environment for making more efficient decisions and implementing development initiatives more effectively, thereby supporting sustained growth and enhancing operational and administrative performance in the medium and long term.

He pointed out that one of the key advantages of the company’s transformation is that it will operate under a modern legal framework aligned with the Companies Law, enabling it to keep pace with legislative and economic developments and thereby strengthening its competitiveness in the air transport sector.

He added that this institutional model clarifies roles and responsibilities within the company and aligns with best administrative practices adopted by major corporations, supporting institutional performance sustainability and enhancing resource management efficiency.

Al-Fuqayan noted that the royal decree responds to the developments witnessed by the air transport sector and intensifying regional competition, providing a legal and regulatory framework that supports the company in continuing to implement its development plans.

He clarified that reaching the ranks of global airlines is not solely dependent on legal transformation but is the result of an integrated system that includes fleet development, service enhancement, improved operational efficiency, strategic expansion of the route network, investment in national human capital, as well as modern technologies and digital transformation.