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Kenya Airways hunts $1b from private investors

December 28, 2023 12:00:00


Kenya Airways plans to debut its recently delivered B737-800 freighter into service on January 15, 2024, deploying it on the Nairobi Jomo Kenyatta-Sharjah-Mumbai International-Nairobi route, Commercial Director (Cargo) Peter Musola said during a conference in India, reports the Economic Times.

As reported by logistics news website STAT Trade Times, the airline plans to operate the route 4x weekly initially given India is a promising market for cargo, with Mumbai acting as a gateway to the country. Kenya Airways plans to initially focus on saturating the cargo market from Mumbai before expanding to other destinations in the country.

"The products include pharmaceuticals, spare parts, machinery, high tech, consumer goods and electronics. India is a strong manufacturing country, and it is becoming a manufacturing giant. Most of these products are in demand in Africa and we want to leverage this as an airline," Musola said. The airline took delivery of its first B737-800 converted freighter in late November 2023, although it has yet to reveal its identity.

The Kenyan government settled a further chunk of guaranteed debt belonging to Kenya Airways (KQ, Nairobi Jomo Kenyatta) amounting to KES2.7 billion shillings (USD17.6 million) plus KES351.29 million (USD2.29 million) in interest during the three months to the end of September 2023, according to a report issued by the country's Office of the Controller of Budget (OCOB).


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