Iraqi Airways to be closed following bankruptcy29 May 2010
The Iraqi government has said it will close the state-owned Iraqi Airways after declaring it bankrupt.
Iraq’s transportation ministry told reporters the airline would be closed following a damaging dispute with Kuwait over war reparations. Kuwait Airways says the Iraqi flag carrier owes it about $1.2bn for aircraft and plane parts taken during the Iraqi invasion of Kuwait in 1990.
All scheduled Iraqi Airways flights have been cancelled.
source: BBC News