NewsEast & Horn Africa

Fri,17Nov2017

East & Horn Africa

Kenya Airways narrows pretax loss, plans U.S. flights next year

Kenya Airways is part-owned by Air France KLM, who's logo is seen here, in Paris, July 26, 2013. Photo: AP Photo/Jacques BrinonKenya Airways reduced first-half losses by 20 percent, helped by cost cuts, and will start flights to New York next year, its new chief executive said on Friday as the company presses ahead with its turnaround.

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Kenya Airways narrows pretax loss, plans U.S. flights next year

Kenya Airways is part-owned by Air France KLM, who's logo is seen here, in Paris, July 26, 2013. Photo: AP Photo/Jacques BrinonKenya Airways reduced first-half losses by 20 percent, helped by cost cuts, and will start flights to New York next year, its new chief executive said on Friday as the company presses ahead with its turnaround.

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Government raises Kenya Airways stake in debt swap deal

Kenyan Airways pilots walk past a Kenya Airways plane,May 5, 2007 at Jomo Kenyatta airport in Nairobi. Photo:KAREL PRINSLOO/AP/SIPAThe Kenyan government and domestic lenders have agreed to convert more than $400 million of Kenya Airways' debt into equity, increasing the state's stake in the airline to almost 50 percent.

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Government raises Kenya Airways stake in debt swap deal

Kenyan Airways pilots walk past a Kenya Airways plane,May 5, 2007 at Jomo Kenyatta airport in Nairobi. Photo:KAREL PRINSLOO/AP/SIPAThe Kenyan government and domestic lenders have agreed to convert more than $400 million of Kenya Airways' debt into equity, increasing the state's stake in the airline to almost 50 percent.

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Kenyan PMI hits record low in October on political woes

Kenya's opposition leader Raila Odinga leaves after making a statement to the media in Nairobi, Oct. 31, 2017. Photo: Ben Curtis/AP/SIPAPrivate sector activity in Kenya dropped to a record low in October as prolonged political instability exerted a heavy toll on the economy, survey data showed on Friday.

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Kenya's Nakumatt, once East Africa's top retailer, seeks protection from creditors

The interior of a Nakumatt mega store is seen in Nairobi, May 26, 2007. Photo: SAYYID AZIM/AP/SIPAKenya's Nakumatt is seeking court protection to rebuild its fortunes after creditors demanded millions of dollars owed by a company that grew from a small Rift Valley bed shop to become East Africa's biggest supermarket chain.

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