Kenya Airways (KQ, Nairobi Jomo Kenyatta) aims to convert loans into shares to reduce its debt and increase equity, paving the way for a strategic investor to come on board by December or early next year, according to CEO Allan Kilavuka.

He told Kenya’s Business Daily Africa that the airline is banking on its top shareholders to back the debt-to-equity swap – the second in under seven years – to address its negative equity position of KES123.6 billion shillings (USD960 million) due to high debts. “We have some large shareholders, and they…

Source: ch aviation
Read more: Kenya Airways seeks debt-to-equity swap as results improve