Kenya Airways (KQ) has been forced to review the status of its 41.23 percent shareholding in Precision Air Services Plc as the Tanzanian subsidiary faced mounting financial troubles.
With total liabilities exceeding total assets, the resulting negative shareholder equity signals a bad state of financial health for Precision Air, reducing the possibility of the Kenyan national carrier recovering the money invested in it.
Kenya Airways chief executive Allan Kilavuka said they are reviewing…
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