Kenya Airways gets a big financial boost
The Kenyan government has released 10 billion shillings (around 92 million USD) for the benefit of Kenya Airways, the national airline. An envelope made up of 8 billion shillings from the finance ministry, and 2 billion from the transport ministry, according to local press.
Nearly 50% controlled by the Kenyan state, 37.8% by a consortium of banks and 7.8% by Air France-KLM, the company announced a few weeks ago that it will put a term, before the end of the year, to its commercial partnership with the French operator, this after more than 25 years of partnership. This is one of the consequences of the Covid-19 pandemic which, on the one hand, was mentioned as a reason for a temporary suspension last spring.
Kenya Airways announced in August 2020 that it expected to decline from 60 billion shillings to 70 billion shillings in profits by the end of the year.