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Kenya Airways Targets 35% Cut in Leasing Costs to Stem Losses

  • Airline awaits state funding to settle debt owed to lessors
  • KQ’s first-half loss narrowed by 14% to $82.4 million

Kenya Airways Plc is looking to reduce jet-leasing costs by more than a third as the carrier targets break even by 2024. 

Negotiations with lessors has so far led to a 19% cut in overall rental costs, Chief Executive Officer Allan Kilavuka said Wednesday during a virtual briefing. The move is part of a wider restructuring following years of losses and state bailouts.