Kuwait National Airlines Co. (KNA) K.S.C. faces lawsuits from banks and owes Burgan Bank (BURG) about 16 million dinars ($58 million), Kuwait National’s Chairman Abdul Salam al- Bahar said.
“The banks have filed lawsuits and they’re demanding legal measures against the company,” al-Bahar told reporters today. He didn’t name the banks.
Kuwait National also owes Kuwait International Bank (KIB) 5 million dinars, al-Bahar said at the company’s headquarters at Kuwait International Airport. Al-Bahar spoke after the postponement of an extraordinary shareholders meeting.
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