Cabinet Approves Sh45.44 Billion Financing for Kenya Airways Turnaround
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Originally published by Kahawatungu — Read the original article →
The Cabinet has approved Sh45.44 billion ($350 million) in shareholder financing for Kenya Airways to help the national carrier meet urgent financial obligations, maintain aircraft and return grounded planes to service.
In a dispatch following a Cabinet meeting chaired by President William Ruto at State House on Friday, the government said the funds would be disbursed in tranches under the oversight of the National Treasury.
The financing will have a repayment period of up to 10 years, with the possibility of conversion into equity, subject to the necessary approvals.
