Kenya's government is close to approving a restructuring plan for Kenya Airways to replace one introduced by the previous administration and backed by the International Monetary Fund (IMF), the airline's CEO told Reuters.
Kenya Airways planes are seen through a window as the Jomo Kenyatta international airport reopens after flights were suspended following the coronavirus disease outbreak in Nairobi, Kenya August 1, 2020. REUTERS/Njeri Mwangi//File Photo
to replace one introduced by the previous administration and backed by the International Monetary Fund , the airline's CEO told Reuters. The administration of former President Uhuru Kenyatta introduced a plan in 2021 under which the government agreed to provide loans and eventually take over $800 million of the airline's debt.
Also respnding to written questions, Finance Minister Njuguna Ndung'u said the government wanted to turn around Kenya Airways so it can secure a strategic investor but did not provide details of the new plan.
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