Kenya Airways secures $49mn loan

Kenya Airways has secured a USD49.46 million loan from its largest shareholder, the Kenyan Government. As per company statement, the funding will be used in the overhauling of the Kenya Airways Embraer E190 fleet. "The cash injection will cater for overhaul of 11 Embraer engines which is required every eight years in order to uphold the highest levels of safety and maintain reliability and planned network schedules," it said.

Michael Joseph, the Airline's chairman also mentioned that Kenya Airways would also look into refurbishing its remaining pair of B737-700s. The two jets were originally due to be phased out under previous chief executive Sebastian Mikosz.