Kenya Airways Plc is weeks away from unveiling a proposal to sell a stake to a strategic investor, the airline's acting Chief Executive Officer George Kamal confirmed. The flag carrier first embarked on this plan nearly a decade ago. Several potential suitors have already approached the carrier.
The airline requires approximately $1.5 billion in funding to support its operations. Kamal did not disclose the names of the interested parties or a specific timeline for the announcement. The proposal marks a significant step in the carrier's long-delayed restructuring strategy.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing