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Kenya Airways in talks with 3-4 parties on stake sale

Kenya Airways CEO Mbuvi Ngunze. The airline is talking to "about three or four" foreign institutional investors and airlines about buying a stake to raise cash for the lossmaking carrier, its chief executive said on Monday. (PHOTO: FILE/ STANDARD)

Nairobi: Kenya Airways is talking to "about three or four" foreign institutional investors and airlines about buying a stake to raise cash for the lossmaking carrier, its chief executive said on Monday.

The airline, 27 percent-owned by Air France KLM, has been reducing the size of and modernising its fleet, selling land and cutting jobs to recover from losses caused by a slump in tourism.

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