Kenya Airways (KQ, Nairobi Jomo Kenyatta) has secured USD50 million in short-term loans from local commercial banks amid delays in a planned USD500 million capital raising via a strategic investor, Kenya’s Business Daily newspaper reported.

The bridge financing, meant to cover urgent working capital needs such as spare parts and engine servicing, comes as the national carrier awaits government approval of its investment memorandum. The Kenyan government, which holds a 49% stake, must sign it off before the airline can launch its hunt for a…

Source: ch aviation
Read more: Kenya Airways obtains mn loan, awaits 0mn cap'n