Kenya Airways Bailout

摘要

The Kenyan Government has given a Sh4.2 billion ($43 million) loan to assist the loss-making Kenya Airways. The national carrier has been hit by a drop in revenues caused by the Ebola epidemic, a fall in domestic tourism resulting from the al-Shabab terror attacks, fuel price volatility and intense competition. The Kenyan Parliament's Budget Committee said the loan was given through supplementary budget estimates. In the half-year to September 2014, Kenya Airways reported a pre-tax loss of 12.5 billion shillings ($128 million). It is expecting 25% lower earnings for the year that ended in March. Kenya Airways is disposing its Boeing 777-200ER and 777-300ER fleets and moving its remaining 787 Dreamliner orders to sale/leaseback agreements to help its financial situation. The Kenyan Government has 29.8% shareholding in the airline, which is also partly owned by Air France-KLM.