Prime
Treasury declines KQ Sh7bn bailout appeal
A KQ plane on flight. PHOTO | FILE | NATION MEDIA GROUP
What you need to know:
- The national carrier needs money for the maintenance of the grounded planes, payment of staff salaries and settlement of utility bills.
- Mr Yatani reckons that the Treasury is keen to pursue a turnaround under the plan to nationalise Kenya Airways, which was approved by lawmakers in July.
The Treasury has refused to offer a commitment to Kenya Airways’s request for a Sh7 billion emergency bailout after its aircraft were grounded due to the restrictions on international passenger flights sparked by the coronavirus pandemic.
Treasury Cabinet Secretary Ukur Yatani said the State was keen on a long-term solution anchored in nationalisation of Kenya Airways, arguing the carrier’s financial troubles go beyond the corona-related woes.
