Kenya Airways to cut 600 jobs
Kenya Airways will cut 600 jobs as part of its turnaround programme, “Operation Pride”, after a KES25.7 billion (USD251 million) loss.
CEO Mbuvi Gunze has said the plan aims to generate savings of USD200 million.
The carrier has begun reducing its fleet from 52 aircraft, to 36, and has sold its London Heathrow slots to Oman Air.
The carrier will need between USD500-600 million in recapitalisation to return it to profit, and is currently seeking financial and restructuring help from Afreximbank, McKinsey & Co. and PJT Partners.
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