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Kenya: Treasury Prepares to Bail Out Kenya Power, Kenya Airways
Nation, 18 October 2021
The Treasury has agreed to inject cash into Kenya Power and Kenya Airways in the financial year starting July 2022, citing the role of the two struggling firms in supporting… Read more »
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Kenya: Why Kenya Power is Now a 'Special State Project'
Nation, 8 October 2021
Ailing Kenya Power is now a special state project. Read more »
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Kenya: KQ Introduces Additional Flights to London After Removal From Red List
Capital FM, 7 October 2021
Kenya Airways Thursday introduced three new flights to London following the removal of Kenya from the United Kingdom (UK) red list which regulates countries getting into the… Read more »
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Kenya: Kenya Airways Flight Hitch Attracts German Air Force Attention
Nation, 25 September 2021
A flight incidents tracker reported that a Kenya Airways (KQ) aeroplane destined for the Netherlands had a malfunction while flying over Germany on Monday, prompting the country's… Read more »
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Kenya: Kenya Airways Narrows Its 1h21 Pretax Loss to Sh11.5bn
Capital FM, 27 August 2021
National carrier Kenya Airways PLC (KQ) says the first half of 2021 continued to be severely impacted by the COVID-19 crisis, resulting in depressed half-year results. Read more »
Govt Prepares to Bail Out 'Broke' Kenya Power, Airways
The Treasury has agreed to inject cash into Kenya Power and Kenya Airways in the financial year starting July 2022, citing the role of the two struggling firms in supporting economic recovery from Covid-19 knocks.
No bailout was allocated to the two firms in the current financial year, raising concerns their worsening cash flow positions could hurt operations and slow down recovery in economic activity.
The national carrier has made clear its plea for additional cash from anchor shareholder, the government, to help it out of its precarious financial position.
Equally debt-laden Kenya Power has also sunk into a near dire financial position with operating costs rising faster than revenue, worsened by elevated financing costs and system losses, writes Constant Munda for The Nation.
InFocus
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If Kenya Power was not majority owned by the state, it would now be a company in receivership. Banks would be circling around it, ready to strip down its assets, and sell them to ... Read more »
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Kenya Power managing director Bernard Ngugi has reportedly resigned after serving the country's sole power distribution company for almost two years. He has been ... Read more »
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Businesses that incur financial losses due to power blackouts will receive compensation from Kenya Power if proposed regulations by the energy regulator are adopted. The draft ... Read more »
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Executives at Kenya Airways, RwandAir and Uganda Airlines have all conceded to a challenging business environment that has seen a rise in costs, cutbacks in capacity and a revision ... Read more »
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This decision to halt passenger flights, for the first time in 40 years, by the national flag carrier has been brought about by an announcement by most governments to shut down ... Read more »
National Treasury Cabinet Secretary Ukur Yatani on his way to Parliament to present the budget statement (file photo).
