(Bloomberg) -- Kuwait Airways Corp. is seeking a $350 million loan that will help the Gulf carrier pay for planes, people with knowledge of the deal said.
The state-run airline is talking to banks to raise a five-year facility, said the people, asking not to be identified because the information is private. It’ll be used to make early payments for narrow-body jets, they said.
Kuwait Airways has 15 Airbus SE A320neo narrow-body planes on order as well as eight A330neos, five A350s plus 10 Boeing 777s. It currently has a fleet of 17 planes, according to information on its website.
A spokesman for Kuwait Airways didn’t immediately respond to a request for comment.
--With assistance from Fiona MacDonald.
To contact the reporters on this story: Arif Sharif in Dubai at firstname.lastname@example.org;Archana Narayanan in Dubai at email@example.com
To contact the editors responsible for this story: Dana El Baltaji at firstname.lastname@example.org, Shaji Mathew, Claudia Maedler
©2019 Bloomberg L.P.