KQ could swap debt to equity to fly back to profitability
Kenya Airways chief exeutive Mbuvi Ngunze. He said that they have registered an improvement in the mark to the market valuation of fuel hedges of $26 million. PHOTO | JEFF ANGOTE
The restructuring of Kenya Airways has been thrown into further uncertainty after the airline reported a record $262 million loss for the year to March 31, 2016.
That staggering loss, for the fourth year in a row, has worsened the carrier’s negative equity position to $357 million, meaning no valuation can be done to determine how much money existing shareholders and potential investors can inject into the carrier.
