State will not sell KQ stake, says Transport CS James Macharia
Brussels, Belgium: The Government says it will not offload its 29 per cent stake in Kenya Airways for now. Transport and Infrastructure Cabinet Secretary James Macharia said some investors have expressed interest to buy the troubled airline but they are yet to firm up any commitments. He said the Government’s plan is to resuscitate the ailing national carrier that is in dire need of Sh60 billion to clean its balance sheet. “We have many proposals from Middle East and American companies but expression of interest is different from actual buying. What we are looking for is the best interest not just for the airline but the country as well,” said Macharia. The CS who addressed the media in Brussels, Belgium where he accompanied President Uhuru Kenyatta to sign infrastructure deals with the European Union (EU) affirmed that the government’s interest is to save the airline from collapse.