Nairobi-based Kenya Airways reported a net loss of KSh25.74 billion ($274 million) for the 2014-15 financial year ended March 31, deepened from a KSh3.38 billion net loss in the year-ago period. Kenya Airways also announced it has secured a KSh20.4 billion loan from Cairo-based African Export-Import Bank to avoid complete bankruptcy. AfrEximbank will further advise Kenya Airways on raising capital. The airline said the loss was due to increased overhead costs (KSh25 billion), as well fuel ...

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