NAIROBI: Kenya will take at least 21 months to take back full control of its national carrier Kenya Airways , buying out minority shareholders and converting shares held by banks into Treasury bonds, a lawmaker briefed on the transaction said.
"If you look at the lenders, they have no interest in owning the airline other than getting back the amount that they lent," Musau said.Air-France KLM, which declined to comment, will have the option of selling its stake to the government and staying on as a technical partner for the airline, the lawmaker said.
"The balance sheet of the aviation holding company will be healthier than Kenya Airways alone," Pkosing said. Nationalization will exempt Kenya Airways from taxes on engines, maintenance and fuel, allowing it to sell cheaper tickets, Pkosing said.
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