Kenya Airways (KQ) has entered into a sale agreement with a US-based airline, Omni International, for sale of its two Boeing 777-200 ER.
According to a statement released by KQ yesterday, the board has approved the sale of the two planes.
KQ had announced its intention to sell the Boeing 777-200 ER fleet in November 2014 as it sought to rationalise its fleet as part of a turnaround strategy.
"I am pleased that we have reached this milestone and have found a good home for our B777-200 ER. We are now satisfied with this sale and will make other important announcements on fleet rationalisation later this month," said KQ Group Managing Director Mbuvi Ngunze.
KQ posted a Sh25.7 billion loss in the last financial year, which it blamed on competition from Middle East carriers and high operating costs.
The airline had also blamed travel advisories that led to a slump in the tourism industry, as well as runway closures for renovation, for eating into the company's 2014/2015 full-year earnings.
The airline has, however, been accused of poor management decisions, operational inefficiencies and failure to counter competition.
