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Kenya Airways gets waivers after Sh77bn loans breach
Kenya Airways was forced by its auditors to restate its 2017 financials to reclassify the loans as “current” from “non-current”, which in accounting terms means that they are due for repayment within one year. FILE PHOTO | NMG
National carrier Kenya Airways #ticker:KQ has obtained waivers from international lenders allowing the airline to breach liquidity ratios without suffering the penalty of having to repay debts worth Sh77 billion within one year.
Kenya Airways was forced by its auditors to restate its 2017 financials to reclassify the loans as “current” from “non-current”, which in accounting terms means that they are due for repayment within one year.
