Kenya Airways has defaulted on a Massive loan leaving the Kenyan government to pay a substantial portion of the due funds.
The State of Kenya will be required to pay $525 million to the US Exim Bank after the African country’s national air carrier Kenya Airways defaulted on a loan. The loan of $841.6 million taken out by the airline in 2017 was meant to be used to purchase seven aircraft and one engine. The Kenyan government backed the loan…