Subscribe free to our newsletters via your
. Space Industry and Business News .

Iraq to pay $500 mn airline settlement by mid-2013: Kuwait
by Staff Writers
Kuwait City (AFP) Oct 24, 2012

Kuwait said on Wednesday that Iraq will complete payment of a $500 million settlement of an airline dispute between the two nations by the middle of next year.

A royal decree ratifying the settlement signed by Kuwait Emir Sheikh Sabah al-Ahmad Al-Sabah states that Baghdad will pay $200 million in the first six months of 2013.

The remaining $300 million will be deposited in a special bank account and transferred to state-owned Kuwait Airways Corp.

The decree said the deal between the two neighbours' airlines was signed in Kuwait City in July and officially ends a 22-year old dispute which began after Iraqi troops invaded Kuwait in 1990.

The settlement amounts to less than half of the $1.2 billion Kuwait Airways had said Iraq's flag carrier owed it. Kuwait says 10 of its planes as well as aircraft parts were plundered after its airport was seized during the invasion.

The Kuwaiti decree is effective from the day it is published in the official gazette, though under the emirate's constitution, the next parliament, due to be elected on December 1, has the right to reject it.

An Iraqi foreign ministry statement said on Tuesday that the decree "cancels all restrictions and complications in rebuilding Iraqi Airways, and it is now free to buy new planes and build a fleet."

Iraq invaded Kuwait in 1990, after which flights between Iraq and its small neighbour to the south were suspended. Authorities earlier this year gave approval for direct flights between the two countries to resume.

Several outstanding issues are still to be sorted out between the two Arab neighbours including the payment by Baghdad of around $20 billion in war reparations and about $16 billion in debt.


Related Links
Aerospace News at

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Embraer delivers Super Tucano aircraft to Mauritania
Sao Paulo (AFP) Oct 22, 2012
Brazil's top planemaker Embraer said Monday it has delivered an undisclosed number of its A-29 Super Tucano light attack aircraft to the Mauritanian Air Force. An Embraer spokesman said several of the planes were delivered to Mauritania for the first time Friday at a ceremony in Gaviao Peixoto, some some 270 kilometers (165 miles). But he would not say exactly how many, citing a confidential ... read more

Zynga stock jumps despite earnings loss

50-year-old computer restored in Britain

Microsoft courts mobile lifestyles with Windows 8

Danes develop eye-control software for phones, tablets

ONR to Dial Up Faster Data for the Marines

$15M order for Harris tactical radios

SPAWAR Atlantic taps Engility

Northrop Grumman Begins Production of EHF SatCom System for B-2 Bomb

Brazil eyes closer space cooperation with Ukraine

S. Korea plans third rocket launch bid Friday

AFSPC commander convenes AIB

Proton Lofts Intelsat 23 For Americas, Europe and Africa Markets

Trimble Adds Boom Height Control to its Field-IQ Crop Input Control System

New INRIX Traffic App for Android Provides Relief from Soaring Gas Prices

Pittsburgh Parks Conservancy to Develop Mobile Application for Parks

Runzheimer International Launches 2012 Total Employee Mobility Survey

Iraq to pay $500 mn airline settlement by mid-2013: Kuwait

Embraer expands in African aviation market

Chinese HNA buys into French airline, steps into Europe

Embraer delivers Super Tucano aircraft to Mauritania

Quantum computing with recycled particles

Boeing, Samsung Electronics to Explore Joint Technology Research and Development

Breakthrough offers new route to large-scale quantum computing

Bus service for qubits

Rapid changes in the Earth's core: The magnetic field and gravity from a satellite perspective

Landsat Science Team to Help Guide Next Landsat Mission

TerraSAR-X images Bonneville salt flats

Earth Observation Commercial Data Market Remains Strong Despite Slowdown in 2011

EU takes Italy back to court over illegal landfills

New methods might drastically reduce the costs of investigating polluted sites

Pollution row strangles Italian steel giant ILVA

S. Korean villagers evacuate after toxic leak

The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement