Kenya Airways to sell four aircraft to stem losses

After the $251.1 million loss announced earlier in the month, Kenya Airways said today it plans to sell four of its older planes to raise funds
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.The loss has been attributed to poor management decisions and inefficient operations by analysts, although the airline blames Middle Eastern competition and travel advisories for a decline in the tourism industry, according to the Eastern African newspaper.
Kenyan tourism number have declined due to attacks by Somalia-based militants al-Shabab, but Kenya Airways has not responded to competition effectively, leading to loss of profits, reports said

Acting Transport Cabinet Secretary James Macharia announced to a House committee that the sale of the planes is part of a recovery plan upon meeting Transport, Public Works and Housing Committee of the National Assembly on Tuesday.
Evidence gathered by a Senate Select Committee suggest that the downfall of Kenya Airways was caused by the airline committing strategic errors.

 

 

 

 


Pictured left: Acting Transport Cabinet Secretary James Macharia