Kenya Airways plane. Photo/courtsey.
The government has announced that it has bailed out national carrier Kenya Airways.
This is according to recovery efforts and a report will be presented to the National Assembly for approval.
The support was confirmed by Treasury CS Henry Rotich.
“The government continues to support Kenya Airways as it is a valuable national strategic asset," Treasury CS Rotich noted in a statement on Tuesday.
"As a major shareholder, we are keen to secure the airline's future and ensure it has a healthy liquidity profile and remains operational. The proposed restructuring of the airline will generate concessions from all stakeholders and the re-capitalisation of the business.”
The Cabinet noted the national carrier's recovery efforts were reflected in its full results for the financial year 2016/17.