Legal framework for Kenya Airways takeover out by August

A legal framework for the nationalisation of Kenya Airways is set for discussion when Parliament resumes next week in what could change stakes for key shareholders that include a consortium of local banks and Royal Dutch Airlines.

Parliamentary Transport Committee has come up with the National Aviation Management Bill 2020 that seeks to guide implementation of its earlier report that recommended State’s takeover of the national carrier.

Under the plan, the government, which owns 48.9 percent of KQ, is expected to buy out the remaining holders of 51.1 percent of the shares, and form Aviation Holding Company to run the national carrier and Kenya Airports Authority (KAA).

The Cabinet has approved the National Aviation Management Bill, which is currently at the State Law Office for refinement before being brought to Parliament.

Transport Committee chairman David Pkosing said his team would push the Bill through all stages by August.

Read more at Business Daily (Samwel Owino)

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