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Kenya Airways is about to conclude its capital restructuring, its chairman said Wednesday, edging closer to putting past financial woes behind it, the carrier’s chairman said.
The airline, part-owned by the State and AirFrance KLM, sank into the red four years ago after tourism slumped following a spate of attacks in Kenya by militants from the Somalia-based al Shabaab Islamist group. Last year the carrier had negative equity of $339 million (Sh35 billion), Reuters data showed, and the business was sustained by shareholder loans.
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