Audio By Carbonatix
Kenya’s national airline has told the BBC the amount of money it is trying to repatriate from Ethiopia, Malawi and Nigeria is $28m (£24m).
Kenya Airways Chief Executive Allan Kilavuka made the disclosure a day after the airline reported a loss of $82m in the first half of 2022.
It is among the airlines unable to withdraw their earnings from the three African countries because of a foreign currency crisis.
Foreign airlines are required to sell their services using local currency, which is later converted to US dollars and repatriated to the airline’s home country.
This has not happened because of a shortage of foreign currency, proving a significant setback to the operations of Kenya Airways, which has been unprofitable in recent years.
Plans to return to profitability have been heavily dependent on funding from the Kenyan government - one of its major shareholders.
The airline says it is relying on diplomatic talks led by the Kenyan authorities for the funds in Ethiopia, Malawi and Nigeria to be released.
The International Air Transport Association (Iata) says up to $1bn is owed to airlines across Africa, which poses yet another risk to the aviation industry already hit by the Covid-19 pandemic.
Latest Stories
-
GJA honours BoG for contributions towards national development and media
2 minutes -
Mussa Dankwah defends NDC flagbearer polls, says they help streamline leadership race
2 minutes -
’16 buildings within Greater Accra Region to be demolished’ – Interior Minister announces
5 minutes -
T-bills auction: Government exceeds target by 11.9%, but interest rates surge
7 minutes -
Côte d’Ivoire World Cup 2026 team guide
7 minutes -
Germany World Cup 2026 team guide
10 minutes -
Ghana activates surveillance, isolation systems to counter Ebola threat – Deputy Health Minister
10 minutes -
Akuse residents demand urgent rehabilitation of Akuse–Asutuare road
12 minutes -
Ecuador World Cup 2026 team guide
14 minutes -
Ghana remains open to foreign mining investment despite push for greater local participation – GIPC
15 minutes -
Seoul to New Jersey: Senegal’s reckoning with France, 24 Years on
17 minutes -
Curaçao World Cup 2026 team guide
19 minutes -
Evacuated Ghanaians make nation proud with clean security record in South Africa – Ablakwa
20 minutes -
53-year-old mechanic remanded for allegedly causing harm
21 minutes -
Bawumia promises alternative policy response to Cocoa sector challenges
24 minutes