If the Bill tabled in Parliament on Thursday becomes law, the airline will also be nationalised, buying out minority shareholders, KQ chairperson Michael Joseph told shareholders on Friday. KQ, as it is known internationally, reported a gross loss of Sh12.98 billion, a 71 per cent drop compared to Sh7.55 billion loss the previous year. According to the proposed law sponsored by the immediate former leader of Majority in Parliament Aden Duale, KQ, KAA, the Aviation Investment Corporation and other entities established will be subsidiaries in Kenya Aviation Corporation (KAC), the proposed holding firm. Under the proposed law, KQ will have all the powers necessary for the proper performance of its functions or as may be assigned by the KAC board. The proposed law also creates Aviation Investment Corporation to carry businesses in relation to aviation training schools.

Source: The Star June 26, 2020 18:00 UTC