Kenya Airways (KQ) has so far received KSh6.7 billion out of the KSh26.6 billion of state support provided by the National Treasury on 4th February this year.
According to the airline’s Chief Financial Officer, Hellen Muthoni Mathuka, the airline is receiving the tax-payers-funded support in target phases, based on realization of set milestones.
KQ was allocated KSh36.6 billion to help with its reorganisation in the budget for the current financial year ending June next year as part of the Government’s strategic investments in public enterprises.
This will bring the total amount of capital injected into the troubled airline by the State to KSh63.2 billion after it was awarded KSh26.6 billion in the financial year that ended June 2022.
Between 2016 and 2020, the State advanced KQ KSh35 billion, bringing the total loans to the airline to KSh98.2 billion.
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