The government of Kenya has pledged ongoing financial support to Kenya Airways to implement its “Plan 2028” recovery program and meet its obligations for at least another year after the approval of its annual financial statements for 2023.
The government’s commitment to support Kenya Airways is reflected in a letter of support ensuring financial assistance for the airline to implement its recovery program and meet financial obligations for the next 12 months from the approval date of the financial statements.
Kenya Airways CEO Allan Kilavuka highlighted that despite the government’s belief in the airline’s strategic importance, direct state support has not been received over the past year due to financial constraints. Discussions are ongoing with various airlines for a strategic equity partnership aiming to raise funds to recapitalize the carrier and foster future growth, with optimism for a deal by the end of 2024.
