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A running file

The kenya-airways file

Every Receipt on this subject, newest first. Next on the calendar: Kenya Airways' cautionary notice must be renewed or withdrawn within 60 days of 9 October.

  • Companies DeskReceipt

    Kenya Airways' bailout bill: KES 122bn of state loans to become shares, and US$350m more on the way

    Our verdict · Opinion

    In our view the state is no longer just Kenya Airways' biggest shareholder but its lender of last resort: it has taken over the airline's guaranteed aircraft loan, has approved US$350 million more and plans to turn KES 122 billion of loans into shares, before KQ has shown it can follow its 2024 profit with another.

    On 9 October 2026 Kenya Airways said the government had approved a US$350 million loan, about KES 45.15 billion, and in principle the conversion of about KES 122 billion of existing government loans into an equity-type instrument. At the end of 2025 the airline's liabilities exceeded its assets by KES 132.1 billion. Treasury reports show taxpayers also servicing the airline's US-guaranteed aircraft loan.