Kenya Airways Seeks to Raise as Much as $1.5 Billion Capital.

Kenya Airways is seeking to raise up to $1.5 billion in fresh capital to revive the struggling airline and reduce its reliance on government support. The company is looking for a strategic investor and has no specific preferences in terms of origin. Kenya Airways reported its first operating profit in six years and narrowed its annual loss by 41%. The airline has been on the brink of collapse and needs to return to profitability to compete with regional rivals. While it can now operate without direct government funding, this is not a sustainable long-term solution. Kenya Airways also has $10 million in revenue trapped in Nigeria, Burundi, Ethiopia, and Malawi due to foreign exchange supply issues. [Extracted from the article]