The government shall acquire 100 per cent of Kenya Airways, its assets, liabilities, rights, legal cases, licenses, and employees.
That will, however, not guarantee immediate profitability because with the current flight shutdown, this will be a year of record losses for airlines across the world
Much as the 2008 global financial crisis put an end to flights of the supersonic Concorde, this pandemic is likely to remove two planes from the skies, that are favourites of passengers across the world
Michael Joseph said that when the airline resumes flying in Kenya, it will be in a slimmed-down schedule, with fewer destinations and flights.
The next chapter of the Kenya Airways (KQ) journey now seems to be set. In his comments to shareholders during the company’s 44th Annual General Meeting last Friday, that was held virtually, Chairman Michael Joseph mentioned that the National Aviation Management bill had been introduced in Kenya’s Parliament.
The bill arose out of an investment proposal by KQ in which it had sought to take over management of its main base, the Jomo Kenyatta International Airport, from the Kenya Airports Authority. This raised a hue and cry when Parliament reviewed the proposal during a public participation phase, and when its Transportation Committee completed a report in June 2019, it instead recommended re-nationalising the airline that was privatised through an IPO in 1996.
