This archive report was first published on 15 November 2019.
Kenya Airways is set to be nationalized after parliament voted in favor of the move. The airline will be one of the four subsidiaries in an Aviation Holding Company, alongside Jomo Kenyatta International Airport, Aviation college, and Kenya Airport Authority.
The government currently owns 48.9% of Kenya Airways, while local banks hold 38.1%, Air France-KLM 7.8%, Kenya Airways employees 2.4%, and small investors 2.8%.
The National Treasury has announced plans to buy out these stakeholders, with the transport ministry working with the International Finance Corporation (IFC) to determine the fresh valuation and buying price.
The government aims to close the deal before the end of 2020.
