Parliament backs $750 million state guarantee for Kenya Airways debtStaff Writer | June 17, 2017
Kenyan lawmakers approved a government proposal to guarantee $750 million worth of debt owed by Kenya Airways, part of a broader financial restructuring, parliament said in a statement.
Africa The financial restructuring proposal
The financial restructuring proposal also involves the conversion of a separate $243 million loan by the government into equity.
Private creditors are expected to participate with the conversion of their debt into equity but details have not yet been released by Kenya Airways. ■