Kenya’s national carrier in deep cash crisis, goes for short term loans
The airline increased its destinations in Africa and Asia but passenger numbers have been falling. PHOTO | FILE |
Kenya Airways is running out of options to extricate itself from a financial crisis that has seen it struggle to settle financial obligations to employees and creditors.
The airline has turned to short-term loan facilities to pay employees in the face of huge equipment debts and a deteriorating business environment that saw it issue a profit warning for the year ended March 2015.
