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Michael Joseph: Kenya Airways to focus on restructuring its financing

Kenya Airways (KQ) Chairman Michael Joseph. Kenya Airways needs to extend debt repayments and make other changes to restructure its balance sheet, which would take priority over finding a strategic partner, the new chairman of the loss-making airline told Reuters. (PHOTO: COURTESY)

NAIROBI: Kenya Airways needs to extend debt repayments and make other changes to restructure its balance sheet, which would take priority over finding a strategic partner, the new chairman of the loss-making airline told Reuters.

Shares in the carrier, 27 percent-owned by Air France KLM, have surged 68 percent this month on hopes of a turnaround after four straight years of losses.

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