Kenya Airways lifts lid on financiers of their controversial aircrafts

Kenya Airways Chairman Michael Joseph (L) and CEO Sebastian Mikosz when they appeared before the National Assembly Transport Committee over the JKIA sale at County Hall, Nairobi on Tuesday 09/04/19 [Boniface Okendo,Standard]

Kenya Airways has lifted the lid on the ownership of two mysterious companies associated with the 20 aircraft it operates, even as it admitted to past poor investment decisions that have sunk the national carrier to perennial losses.

The board and management of the national carrier revealed that Tsavo Limited and Samburu Limited had financed acquisition of 17 of the 20 aircraft now owned by Kenya Airways, disclosing that the two companies had been formed by the banks that had structured the loans.