Kenya Airways partners with PJT Partners
Kenya Airways has selected PJT Partners to advise it on long-term capital raising and the restructuring of its balance sheet to recover from a period of losses.
The carrier has made losses for the past three and a half years and took out a bridging loan last year.
The Kenyan government, which holds a 29.8% stake in the airline, has said it requires a capital injection of USD500-$600 million to survive.
"We are at a stage where our turnaround strategy is beginning to gain traction," said Kenya Airways chief executive Mbuvi Ngunze.
The partnership will result in PJT Partners working with the airline over the next six to nine months.
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