Kenya Airways board to share recovery plan with shareholders

The Kenya Airways’ board and top management is set to face shareholders later this month with a plan on how the carrier intends to resolve its negative capital position, becoming the first public company to do so as required by the Companies Act 2015.

The new law states that if the net assets of a public company are half or less of its called-up capital, the directors shall convene a general meeting to “consider how to deal with the situation.”