By JAMES ANYANZWA
Kenya Airways has ruled out selling shares to a strategic investor for its recovery plan, focusing on attracting additional capital to the business. The government, with 48.9% stake, is considering surrendering its shares to boost the airline’s prospects. Allan Kilavuka, CEO, emphasized the need for a growth partner investor, not for trading existing shares. The airline’s plan, “Project Kifaru,” aims to stabilize financially in three years. The recent $177.26 million loss in 2023 has prompted discussions on attracting investment. The government’s initial plan for nationalization in 2021 was shelved, seeking a fresh equity investor instead. Talks with potential investors are ongoing, with a focus on strengthening the balance sheet and increasing revenues. Despite delays in partnerships with other airlines, Kenya Airways remains optimistic about growth prospects.