(MENAFN) Kuwait may refuse to accept USD500 million compensation offer from Iraq for the 10 Kuwaiti jets that were taken during the Gulf War of 1990/1991, Kuwaiti daily Al Rai reported, citing Kuwait Times.
Towards the end of last year, Iraqi Airways said it would offer Kuwait Airways USD500 million.
According to the newspaper, members indicated that the amount offered was "too little" and "not comparable with the value of the loss the Kuwait Airways Corporation (KAC) suffered as a result of destruction to its fleet".
Government-owned KAC had originally sought USD1.2 billion compensation from Iraq for the jets.
Iraq's offer involves a USD300 million settlement in cash, with the remaining USD200 million to be invested in joint projects.
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