Home ECONOMY KQ Receives KSh5 Billion Loan from Treasury

KQ Receives KSh5 Billion Loan from Treasury

by biasharadigest

The government, through the National Treasury, has pumped an additional KSh5 billion commercial loan into Kenya Airways (KQ) as it struggles to remain afloat, even as its nationalization plans are still underway.

According to a statement, KQ intends to also use the funds to complete the scheduled engine overhaul program on its E190 Embraer fleet.

The loan to the airline is in addition to previous ones amounting to almost KSh24.2 billion it already wrote off in the last three years.

Kenya Airways has been on the brink of starvation lately, suffering an $8 million loss after suspending flights to Guangzhou amid the coronavirus menace.

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