Suffering as high as 23.8 million dinar losses in the previous fiscal year, the national carrier has minimised its losses to 61 percent in the 2006-2007, KAC Chairman and Managing Director Sheikh Talal Mubarak Abdullah al-Ahmad al-Sabah was quoted as saying.

According to the official, KAC's revenues reached 265 million Kuwaiti dinars, or about 901 US dollars, in 2006-2007, an increase of 5.2 million dinars from that of the previous year.

Talking about KAC's current difficulties and obstacles, Sheikh Talal attributed them to the continuous competitions from other companies and a delayed implementation of the company's improvement plan.

In February, KAC announced its plan to upgrade the fleet by purchasing 30 to 34 new aircrafts from Boeing and Airbus manufacturers.

"KAC will continue to lower operation expenses ... going back to policies that will achieve more income in the current fiscal year," he vowed. (1 Kuwaiti dinars = 3.4 US dollars).