The Treasury and 10 local banks will control 87 per cent of Kenya Airways (KQ) #ticker:KQ under the national carrier’s debt restructuring plan which will see them convert loans of Sh44.2 billion to equity.
The government’s stake under the plan will rise to 48.9 per cent from 29.8 per cent, while the banks’ stake will stand at 38.1 per cent, acquired under a special purpose vehicle known as KQ Lenders Co.
