Suspension of Kenya Airways shares extended

Suspension of Kenya Airways shares extended

The Nairobi Stock Exchange on Wednesday extended the suspension of Kenya Airways shares for another year to allow for the finalization of its restructuring process. A measure taken in 2020 during the health crisis.

In August, the airline reported a half-year loss of $81.5 million due to high fuel costs, which was, however, a marked improvement from the $94.6 million loss recorded in August. ‘last year.

But the Kenyan Nairobi no longer hides its desire to sell its entire stake in the company. The Kenyan government owns 48.9% of the shares of Kenya Airways.

William Rutothe Kenyan president, reportedly raised the subject last month with the leaders of Delta Airlines. While the IMF expects answers to the vulnerability of the company.

The company has not made a profit since 2012. It is only kept afloat by state aid.

In November, a pilots’ strike further weakened the company. It is expected to receive an additional state bailout of about $280 million in a mini-budget expected this month.