KUWAIT CITY, July 24: The Cabinet will soon issue a decree for the privatization of Kuwait Airways Corporation (KAC), reports Al-Anba daily quoting informed sources.

They specified that the decree, which is expected to be issued sometime during the month of Ramadan, will pave the way for the transfer of KAC ownership to a company under Public Authority for Investment and formation of a new board of directors.

They pointed out that the decree is being issued at an appropriate time when KAC is facing difficulties concerning recent near-accidents and repeated flight delays.

They revealed that the top priority for KAC is to lease a few aircrafts after the Eid festival in order to overcome the severe crisis currently affecting the national carrier.