KQ drops sale deal with Delta for South Africa Airways venture
SATURDAY APRIL 01 2023
Kenya Airways may have ditched a sale deal with American firm Delta Airlines to concentrate on a business arrangement with South Africa Airways. PHOTO | FILE | NMG
Summary
- President William Ruto had met top executives of Delta Airlines in December during his trip to the US.
- He launched the government bid to sell its entire 48.9 percent stake in KQ.
- But KQ chairman Michael Joseph said there were no plans to close the deal with Delta.
By LUKE ANAMI
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Kenya Airways may have ditched a sale deal with American firm Delta Airlines to concentrate on a business arrangement with South Africa Airways.
This week, the Kenyan flag carrier reported a Sh38.26 billion ($29 million) net loss for the full year to December, the worst-ever in its decade-long loss-making streak.
President William Ruto had met top executives of Delta Airlines in December during his trip to the US, where he launched the government bid to sell its entire 48.9 percent stake in KQ.
But during the investor briefing this week, KQ chairman Michael Joseph said there were no plans to close the deal with Delta. Instead, the airline will focus on seeking potential investors including Delta, as well as strengthening the SAA deal.
No firm plans yet
“We continue to talk to potential investors but no firm plans yet and as I said, we are working closely with the government of Kenya,” said Joseph.
KQ reported a Sh38.26 billion ($29 million) net loss, the worst-ever in its decade-long loss-making streak.
www.theeastafrican.co.ke
www.thecitizen.co.tz
