Khusoko – East African Markets
    Facebook Twitter Instagram
    Khusoko – East African MarketsKhusoko – East African Markets
    • NEWS
    • ECONOMY
      • BANKING & FINANCE
      • COMPANY
      • MARKETS
    • INDUSTRY
      • AGRICULTURE & ENVIRONMENT
      • HEALTH & WELLNESS
      • PROPERTY
        • RETAIL
      • TECHNOLOGY
        • ELECTRONICS
    • ENTREPRENEURSHIP
      • ENTREPRENEURS
      • PEOPLE
      • PERSONAL FINANCE
    • SPORTS
    • COMMENTARY
    • ARTS & CULTURE
      • BOOKS
      • ENTERTAINMENT
      • FAMILY & RELATIONSHIPS
      • FASHION & STYLE
      • FOOD & DRINK
      • TRAVEL & LEISURE
    Khusoko – East African Markets
    COMPANY

    Kenya Airways Suspension At The NSE Extended For One Year

    I KBy I K2022-01-051 Comment2 Mins Read
    Kenya Airways has issued a profit warning for the current fiscal year ending December 2022, attributing it to foreign exchange (Forex) losses
    Kenya Airways Chairman Michael Joseph

    The Nairobi Securities Exchange (NSE) on Tuesday further extended the suspension of Kenya Airways by 12 months stating that “operational and corporate restructure is still ongoing and the government is expected to give a clear direction on its buy-out or bail-out.”

    “The suspension was approved and issued by the Capital Markets Authority (CMA) pursuant to section 11(3) (w) of the Capital Markets Act and regulation 22 of the Capital Markets (Securities) (Public Offers, Listings and Disclosures) Regulations, 2002. The extension of suspension from trading the company’s shares will remain in force for an additional twelve months, with effect from January 5th, 2022,” said NSE.

    “All shareholders, investors and the general public are asked to take note of the suspension.”

    KQ shares were initially suspended from trading on NSE in July 2020  after Parliament began to review the National management Aviation Bill, 2020 that would lead to the establishment of Kenya Aviation Corporation, a holding company that will house Kenya Airways, National Aviation Council and Kenya Airports Authority.

    The suspension was extended for nine more months in April 2021. The Kenyan government owns a 48.9 per cent stake in KQ, while Air France-KLM owns 7.8 per cent.

    In December, National Treasury Secretary Ukur Yatani said the government plans to take over KSh93.4 billion of the national carrier’s debt owed to suppliers.

    It will also give the airline KSh53.4 billion in direct budget support in the fiscal year that ends in June 2022 as well as the subsequent one.


     

    Kenya Airways (KQ) Nairobi Securities Exchange
    I K
    • Website

    IK is a Masinde Muliro University graduate. His interests are in news and analysis on women's rights, politics, technology, law, and global affairs.

    Related Posts

    Waithera Kabiru To Lead Diageo’s Africa Digital Hub in Kenya

    2023-06-01

    What You Need To Know About Safaricom’s Niokolee Airtime Feature

    2023-05-31

    Ogilvy Africa Unveils InfluenceO Solution for Effective Influencer Marketing

    2023-05-25

    1 Comment

    1. Pingback: National Aviation Management Bill Withdrawn

    Leave A Reply Cancel Reply

    Our Language is Flirty
    https://www.facebook.com/flirtynailsparlour/
    MORE TOP STORIES
    • Why Is the Price of Sugar Being Watched in Kenya?
    • Madaraka Day: Kenya Launches The Hustler Group Loan
    • Kenya Inflation Rate: CPI Rises To 8% in May 2023
    • Waithera Kabiru To Lead Diageo’s Africa Digital Hub in Kenya
    • Pesapal Unveils Real-Time Payments Settlement In Kenya
    • Facebook
    • Twitter
    • LinkedIn
    Facebook Twitter LinkedIn
    • ABOUT US – KHUSOKO
    • PRIVACY POLICY
    • KHUSOKO STANDARDS GUIDE
    © 2023 Khusoko. All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.