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Kenya will convert its $243 million in loans to Kenya Airways into equity, the government has said, as part of a broader restructuring to nurse the ailing airline back to financial health.
The government owns a 29.8 percent stake while Air France KLM has a 26.73 percent stake in the airline, which slumped into the red five years ago following a downturn in tourism after a spate of attacks by Islamist militants.
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