Kenya Airways needs a $500 million bailout to survive, Kenya Airways CEO Allan Kilavuka (pictured) has said. Kenya Airways made Sh36.6 billion after-tax loss for the financial year ending December 2020 compared to Sh12.9 billion loss in 2019. Kilavuka cited European airlines that have consolidated their assets to have more than 800 aircraft, against KQ’s 34. Kilavuka added that it is not only KQ that needs a bailout, and that many airlines around the world do so too. Kilavuka said in January 2020 before Covid-19 hit, KQ was on track to meet the budget by 12-15 per cent.

Source: Standard Digital March 26, 2021 17:46 UTC