Kenya Airways Chairman Calls for Professional Board After Nationalization

Kenya Airways must avoid picking a board packed with politically-connected individuals after it is renationalized in order to ensure future success, its chairman said on Tuesday. The loss-making airline, which is 48.9% government-owned and 7.8% held by Air France-KLM, was privatized 23 years ago but sank into debt and losses in 2014, Reuters reported. Lawmakers voted to re-nationalize it in July. Chairman Michael Joseph said the requirement for professionals to be put in charge of the airline is being built into draft laws that will guide the renationalization. “It must be run in a commercial way,” he told reporters on the sidelines of an aviation meeting. “We do not want to create a situation that we had before, where you nationalize the airline and all it becomes is a department of government. The board of directors is loaded by friends of politicians.” Read more

Location