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Strategic partner may be KQ’s only way out of its financial tailspin

Airline industry experts suggest rich operators like Emirates wanting to control the hub of East Africa are carrier’s best bet. TEA GRAPHIC | NATION MEDIA GROUP

With Kenya’s national flag carrier Kenya Airways (KQ) having plunged deeply into debt, authorities in Nairobi may have no option but to bring in a strategic partner with the financial muscle and capacity to finance both the company’s long-term obligations and its 10-year strategic plan.

The airline on Thursday announced it had made a loss of $251.1 million, which it attributed to competition from Middle East carriers, hedging losses and high operating costs. Last year, KQ posted $28.9 million in losses.

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