New details have started emerging, claiming President William Ruto is planning to sell off the last of the government's shares in the ever-indebted Kenya Airways.
While addressing Bloomberg News, President Ruto is quoted as saying he is willing to sell the whole of KQ. He further goes ahead to explain that he's not in the business of running an airline that just has a Kenyan flag.
It is alleged that while on his official state trip to the U.S., where he was attending the US-Africa Summit hosted in Washington, D.C., President William Ruto met up with some private investors, where he offered to sell the last of the lion's share in the state-owned national carrier.
It is reported that President William Ruto, who has been praised for his great business acumen, met up with Delta Air executives and offered them a 48.9% stake in the national carrier. This is the last of the government's shares in Kenya Airways, and if sold, it will make Delta Air the majority shareholder in Kenya Airways.
Well, what does this actually mean? In summary, if Delta Air accepts the offer, they will become the majority shareholder in KQ. This automatically means Delta Air will now be in control of KQ, and they will have influence over whom to hire and fire and whom to appoint to various positions in the organizations. It also means Kenya will cease to have a national carrier since KQ will now be a privatized airline.
On the positive side, Kenya Airways has been making losses for the past 10 years, so a change of guard would probably be a positive move. Also, Delta Airlines is one of the largest and most successful airlines in the world and the largest carrier in the US.
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