Kenya Airways is actively pursuing opportunities to sell up to 49 percent of its shares to an equity investor, aiming to revitalize its financial standing and operational capabilities.
In an interview with Citizen TV, CEO Allan Kilavuka expressed confidence in securing a deal with potential investors, citing keen interest from various parties.
Kilavuka highlighted the potential transformative impact of a capital injection, envisioning a turnaround in the airline’s profitability.
The airline’s strategic move could lead to a shift in ownership structure, potentially diluting the national government’s current majority stake of 48 percent.
Kilavuka explained that the maximum allowable foreign ownership of 49 percent aligns with Kenyan regulations governing airline operation certificates.
Anticipating a foreign investor, Kilavuka emphasized the need to maintain business continuity while accommodating external capital.
With this shift, the new investor would become the majority shareholder, reshaping the current ownership landscape.
Reflecting on the ideal investor profile, Kilavuka stressed the importance of financial backing and technical expertise to complement Kenya Airways’ core operations.
He highlighted the diverse needs and expectations of potential investors, ranging from active involvement to passive support.
The anticipated capital injection is poised to bolster Kenya Airways’ financial foundation, facilitating balance sheet strengthening, ensuring adequate working capital, and supporting expansion and modernization efforts.
Kilavuka underscored the significance of this initiative in positioning the airline for sustained competitiveness and future growth.
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