KQ projects Sh8.4bn savings from sale of B777s

National carrier Kenya Airways (KQ) estimates that it could make operational cost savings of more than Sh8.4 billion annually from the sale or sub-leasing of its Boeing 777 planes.

“The B777s are expensive to run and only made money during the peak period, posting heavy overheads in the other months. By selling or sub-leasing the B777, we are reducing our fleet cost by about $7 million (about Sh700 million) a month,” said KQ chief executive officer Mbuvi Ngunze in commentary published in Monday’s Daily Nation.