Kenya Airways (KQ) and South African Airways (SAA) have announced plans to begin a search for an investor for the Pan-African airline group they aim to create next year.
The campaign to attract a majority investor for a holding company will be staged in Africa, London, and the U.S.
Kenya Airways Chief Executive Officer Allan Kilavuka says the governments of Kenya and South Africa plan to take a minority stake in the Pan-african airline.
Kilavuka further says the focus is on securing backing from a financial institution rather than an industry partner like a Gulf carrier, as that could compromise plans to split long-haul flights between the airlines’ respective hubs.
According to one scenario, SAA’s Johannesburg base would be a focus for southern-hemisphere operations, such as flights to Sydney, while operations to Asia would go through Nairobi. The hubs would be able to maintain some competing flights, and cities such as London would get services from both.
The two carriers are also seeking to recruit a third member from West Africa, most likely in Nigeria, Ghana, Ivory Coast or Senegal.
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