AfricaAviation News

Kenya Airways share flies into turbulence

Kenya Airways share flies into turbulence

Kenya Airways (KQ) share price has experienced increased volatility at the Nairobi Securities Exchange (NSE) as investors adjust to mixed corporate announcements on the airline, which include a possible dilution in a government led balance sheet restructuring plan.The airline’s share price fell by 30 per cent in the week from June 7from Sh6.85 to S.80 on Wednesday following the announcement of the Treasury’s plan, which if successful would result in a major dilution of existing shareholders.The Treasury’s proposal would see it convert Sh25 billion worth of debt into equity, with several commercial banks owed a total of Sh23 billion by the airline agreeing to follow suit.
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