Baghdad and Kuwait announced an agreement for creation of the airline, worth of $200 million. The airline creation will contribute to reimbursing the suspended $500 million war damages Kuwait expects from Iraq. Baghdad has agreed to pay $300 million of the damages in cash.
The Iraqi and Kuwaiti committees, led by foreign minister of both countries, will meet in a very close future to discus procedures to enforce the recent agreement about the creation of the joint airlines, said Kareem Nouri advisor for Iraqi transportation minister.
The Iraqi and Kuwaiti foreign ministers will meet in a near future to discuss the procedures for creation of a joint airline.