Sessional Paper No. 03 of 2017 on Government Guarantee of USD 750 Million (Equivalent to Kes 75.26 Billion) in Support of Restructuring of Kenya Airways

Abstract

ln accordance with the provisions of the Public Financial Management Act, 2012, section 53 (1) of the Laws of Kenya, the following information is laid before the National Assembly for consideration and approval. The Kenya Airways PLC (formerly Kenya Airways Ltd) is a limited liability. company established under the Companies Act in which the Government owns 29.8% of the issued ordinary shares. It is, therefore, a government linked corporation. Kenya Airways PLC (KQ), the Kenyan National Carrier has grown significantly. Over the last 15 years - from a turnover of KShs 25 billion in 2002 to KShs 100 billion in 2011. ln the same period, profitability improved significantly - at one point KQ had the second highest operating margin globally.