Kenya Airways is leaning towards favouring a major airline considering acquiring a stake in the Nairobi-based carrier, which could inject at least $1 billion into the company, according to knowledgeable sources.
Multiple global airlines boasting robust financial capabilities are eyeing a stake in Kenya's flagship carrier, which is racing against time to secure a new investor before year-end.
"We have received a number of expressions of interest from several entities including airlines, but we mainly think that it would be an airline that will get preference," disclosed a source familiar with the matter. The airline plunged into insolvency in 2018 following an ambitious expansion drive that left it saddled with millions of dollars in debt.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kenya: Producer Element Takes His Sound to Kenya24-Year-
Read more »
Kenya: Rwanda, Kenya Commit to Enhance Transport Along Northern CorridorGovernment officials from Rwanda and Kenya convened to bolster cooperation between the two nations and enhance transport services along the northern corridor, aiming to strengthen trade and streamline the movement of goods and people through improved connectivity.
Read more »
Kenya: Govt to Leverage On Kenya Power Lines for Last Mile Internet ConnectivityThe government will use the existing Kenya Power infrastructure to take fiber optic cable to the rural areas, cabinet secretary for Information, Communication and the Digital Economy, Eliud Owalo has said.
Read more »
Kenya: Reprieve for Kenya's Consumers As Fuel Prices See Largest Decline YetFuel prices have experienced a significant decrease in the latest review, shortly after President William Ruto hinted at a potential reduction in costs.
Read more »
Kenya: President Ruto Appoints 10 Women Ambassadors As Kenya Marks International Women's DayPresident William Ruto has appointed 10 more women as ambassadors to serve in different countries as Kenya marks International Women's Day.
Read more »
Kenya: Duplications of Roles to Blame for Kenya's High Wage Bill, SRC ChairSalaries and Remunerations Commission (SRC) chairperson Lyn Mengich has blamed duplication of roles in the government for the country's high wage bill.
Read more »