Kenya Airways secures $350m state loan to shore up finances

Kenya Airways has secured a significant financial injection from the Kenyan government, receiving a KShs45.15 billion ($350 million) shareholder loan to bolster its struggling finances. This new funding is coupled with an agreement to restructure existing debts amounting to KShs122 billion owed by the SkyTeam carrier. The government’s intervention aims to stabilize Kenya Airways amidst ongoing operational challenges and financial difficulties. Details of the restructuring plan were disclosed following the announcement of the fresh capital infusion. Analysts believe this move represents a critical step in supporting the national airline's long-term viability.