Kenya Airways is set to hold an Annual General Meeting that is will set into motion its restructuring plan even as it looks to jump back into the profit making zone in few months to come.
The National Assembly already approved the loaning of 77.3 billion shillings to the airline by the government. The loan has already been approved and will be released through 11 commercial banks.
The National Treasury will convert the 25 billion shillings given to the airline into shares. This will increase the government’s stake in KQ from 29.8 percent to about 40 percent.