Lawmakers Back Plan to Nationalise Kenya Airways

Kenya’s parliament voted on Tuesday to nationalise the country’s main airline Kenya Airways to save it from mounting debts, Reuters reported. The loss-making airline, which is 48.9% government-owned and 7.8% held by Air France-KLM, has been struggling to return to profitability and growth. A failed expansion drive and a slump in air travel forced it to restructure $2 billion of debt in 2017. The airline later proposed taking over the running of Nairobi’s main airport to boost its revenue. Parliament’s transport committee, however, rejected that plan, recommending instead the nationalisation of the airline in a report debated by the national assembly on June 18. In a voice vote taken on Tuesday afternoon, the majority of lawmakers in the chamber voted to accept the report. Read more