(MENAFN) Kuwait Airways' director general, Saad al-Khafaji, stated that during the coming few days, the carrier will get a payment of USD500 million from the Iraqi government, reported Arabian Business.
Al-Khafaji said that the amount is a compensation for the carrier's 10 planes that were confiscated by Iraq during the first Gulf War in 1990.
Kuwait's national airline had at first sought USD1.2 billion from Iraq for the jets that were taken by Iraqi forces, however, two-and-a-half years ago, the carrier won a UK court order that led to the freezing of the global assets of Iraqi Airways.
Nevertheless, as the two parties inked a deal on compensation in July, which was also endorsed by the Kuwaiti emir in October, Kuwait Airways ended legal action against Iraqi Airways.
It is worth noting that the payment would enable Iraqi Airways to operate services to the UK and Frankfurt by the end of next month.
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