Iraq has reached a $500 million agreement with Kuwait to resolve a standoff over Gulf War-era debts that had prevented Iraqi Airways from flying to destinations in the West, an aide to Prime Minister Nuri al-Maliki said on Wednesday.
Under the deal, Iraq will pay Kuwait $300 million in cash and will invest another $200 million in a joint Iraqi-Kuwaiti airline venture, Maliki's media adviser Ali al-Moussawi told Reuters by telephone from Kuwait where Maliki was on a visit.
In return, Kuwait would lift legal actions against Iraqi Airways, he said. In 2010 Kuwaiti lawyers tried to seize an Iraqi Airways plane on its first flight to London.
No comments:
Post a Comment