Kenya Airways picks British firm for turnaround plans

The original article can be found here.

Article highlights:

  • Kenya Airways CEO Allan Kilavuka said the London-based firm took up the assignment in May and will be retained for three months;
  • The first objective is to survive the current depressed market, the second is to implement strategies that will make the business more sustainable in the long term;
  • Crafting a viable turnaround strategy for the airline was one of the conditions for the R32 billion loan to the Kenya government from the International Monetary Fund(IMF) in March;
  • The airlines net loss nearly tripled to R4.5 billion in the year ended December 2020, the worst ever in the history of the airline.