The Kuwaiti Cabinet, during its weekly meeting chaired by Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah, approved a draft decree-law to transform Kuwait Airways into a fully state-owned shareholding company, marking a significant step toward enhancing corporate governance and operational efficiency within the national carrier.

The draft law has been referred to the Emir of Kuwait, Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah, for final approval, with expectations that the move will strengthen the airline’s flexibility, support expansion strategies, and improve service quality in line with global aviation standards.

The Cabinet also reviewed a presentation delivered by Finance Minister Dr. Yaqoub Al-Refaei regarding the sovereign credit rating report for the first half of 2026, which highlighted Kuwait’s continued financial strength and stable position among leading global credit rating agencies.

According to the report, Kuwait maintains high investment-grade ratings, with Standard & Poor’s and Fitch assigning AA-, while Moody’s rates the country at A1, all with stable outlooks, reflecting sustained confidence in Kuwait’s economic resilience and fiscal stability.

On the security front, the Cabinet received a briefing from Defense Minister Sheikh Abdullah Ali Abdullah Al-Salem Al-Sabah on recent regional military developments, confirming the readiness of Kuwait’s armed forces and their ongoing efforts to safeguard national security and protect residents.

The Cabinet strongly condemned the recent attacks on Kuwait, describing them as a blatant violation of national sovereignty and a serious threat to stability, while reaffirming Kuwait’s inherent right to take all necessary measures under international law to defend its territory and ensure the safety of its citizens and residents.