Kenya Airways to get bailout of $283.7 million for restructuring

Kenya Airways will receive a bailout of $283.7 million from the government in the current financial year to support its proposed restructuring plan and to wean them off annual government funding. In a letter to the International Monetary Fund (IMF), managing director Kristalina Georgieva-Kinova and Treasury Cabinet secretary Njuguna Ndung’u said the financial support is contained in the supplementary budget that will be tabled at the National Assembly before the end of January 2023. The IMF had entered into a 38-month programme with Kenya to help it deal with its debt vulnerabilities and had put the condition of restructuring of