Cabinet approves Ksh 45B to help Kenya Airways reinstate grounded aircrafts
Election
Originally published by KBC Digital — Read the original article →
The government will inject fresh capital to the tune of Ksh 45.2 billion into Kenya Airways as part of efforts to turn around the flag carrier.
The new shareholder financing is expected to help the airline meet urgent financial obligations including aircraft maintenance which will help return grounded aircrafts back to service.
The approval made on Friday during a Cabinet meeting chaired by President William Ruto will allow the National Treasury to disburse the funds in trances with a repayment period of up to 10 years and the possibility of conversion into equity, subject to the necessary approvals.
