The Nairobi Securities Exchange has announced an extension on the suspension of trading of Kenya Airways shares.
In a statement on Wednesday, NSE said the suspension, first issued in July 2020, will remain in force for the next 12 months, with effect from January 5.
“The extension of suspension seeks to enable the company to complete its corporate and operational restructure process,” they said.
It has been reported that the carrier will reduce its fleet size by terminating some aircraft leases and possibly letting go of some staff in the restructuring.
NSE said the suspension was approved by the Capital Markets Authority.
The troubled national airline had a tumultuous 2022 and now carries a debt burden of Sh102 million.
The government paid Sh10 billion for its bailout last year and is expected to pay even more this year.
“All shareholders, investors and general public are asked to take note of the suspension,” they advised.
