Government takes over Kenya Airways control in a debt swap deal

Kenya Airways Chief Executive Sebastian Mikosz during a roundtable with journalists at the airline's head office in Nairobi yesterday. [Photo: Courtesy] 

NAIROBI, KENYA: The government has agreed to convert debt of Kenya Airways into equity giving it a controlling stake in the airline.

The government currently owns ordinary shares in Kenya Airways comprising 29.8 percent of the issued share capital.