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Treasury clears half of Kenya Airways' guaranteed debt with new Sh6.9bn payment
Kenya Airways planes at the Jomo Kenyatta International Airport parking bay.
Photo credit: File | AFP
What you need to know:
- Treasury has now offset Sh53.7 billion out of a Sh69.9 billion debt that the national carrier took over last year.
- As of June last year, KQ had a total outstanding liabilities of Sh302 billion including outstanding claims by the government.
The National Treasury has cleared over half of Kenya Airways' (KQ) guaranteed debt with a fresh Sh6.9 billion payment in the quarter that ended in December.
This means the Treasury has offset Sh53.7 billion out of a Sh69.9 billion debt that the national carrier took over last year as part of a wider strategy to restructure operations of the airline.
