Kenya Airways CEO Seeks $500 Million From State to Survive Virus
- Carrier aims to cut fixed costs by about 40% to match revenue
- Nationalization also vital, Kilavuka says amid buyout talks
Photographer: Patrick Meinhardt/Bloomberg
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Kenya Airways Plc needs at least $500 million to ride out the coronavirus crisis after first-half revenue plunged almost 50%, Chief Executive Officer Allan Kilavuka said in an interview.
The carrier, which is 49% state owned, must also be fully nationalized alongside Kenya Airports Authority, which runs the Nairobi hub, under a holding structure similar to that of regional leader Ethiopian Airlines Group, he said.