Kenya’s government will take over Kenya Airways’ (KQ) outstanding loan of $485 million (59.7 billion shillings) as part of its rescue plan, The Kenyan Wall Street newspaper reported.
The government will undertake several takeovers of distressed loans, which will increase its annual debt service by 10 billion shillings, officials told the International Monetary Fund (IMF).
The airline has been receiving frequent bailouts, with another 35 billion shillings expected in the current…