KUWAIT CITY, June 24: Abdul Mohsen Al-Faqaan, Chairman of the Board of Directors of Kuwait Airways, announced that the Committee for Processing Travel Ticket Prices has restructured the pricing and revenue management sector within the Networks and Lines Department. This initiative aims to develop a dynamic, variable, and advanced pricing policy, reports Al-Jarida daily.

In a press statement on Monday, Al-Faqaan highlighted that the committee has swiftly completed its task, which involved extensive research, identifying flaws in the existing pricing processes, and devising solutions aligned with the company's capabilities.

The committee's recommendations include a revised pricing policy offering competitive rates and various deals over different periods to ensure affordability. Additionally, the travel agent ticket price policy will be updated to reflect these changes. Kuwait Airways has also focused on enhancing its reservation, pricing, and network planning systems to match the latest global aviation standards.

Al-Faqaan emphasized that ticket prices will vary seasonally and according to supply and demand principles. The goal is to balance sales to achieve profitability while maintaining customer satisfaction.

Kuwait Airways, established in 1953 as Kuwait National Airways Limited, began its operations on March 16, 1954. The Government of Kuwait acquired full ownership of the airline in 1962.