Parliament argues that nationalising KQ will cushion it from some taxes and as a result improve its ability to recover from loss. Photo: Kenya Airways. Source: UGC
Government’s plan to take 100% ownership of Kenya Airways gathers momentum
A valuation exercise is set to be conducted before existing shareholders at KQ have their stakes bought off by treasury – Nationalisation will see the national carrier delisted from the Nairobi Stocks Exchange (NSE) where it has been listed since 1996 – Parliament argues that nationalising Kenya Airways will cushion KQ from some taxes and as a result improve the airline’s ability to recover from loss – Treasury currently commands 48.9% of shares at KQ, local banks (38.1%), KLM (7.8%), individuals (2.8%) and 2.3% (KQ employees) The Ministry of Transport has hinted that The National Treasury has plans afoot to initiate buyout of Kenya Airways (KQ) shareholders; an arrangement that will see the national carrier become state owned.