July 23, 2019 / 12:48 PM / 2 months ago

Kenya's parliament accepts proposal to nationalise Kenya Airways

NAIROBI, July 23 (Reuters) - Kenya’s parliament voted on Tuesday to accept a proposal to nationalise Kenya Airways as a way of rescuing it from mounting debts.

The loss-making carrier, which is 48.9% government-owned and 7.8% held by Air France-KLM, has been struggling to return to profitability and growth. A failed expansion drive and a slump in air travel forced it to restructure $2 billion of debt in 2017 to save the business. (Reporting by Duncan Miriri; Editing by Catherine Evans)

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