Kenya Airways will not scale down debt plan, says director Kenya Airways has said that it will not scale down its massive borrowing plan despite the under-subscription of its rights issue which recorded a 70 per cent uptake level.
The rights issue was meant to raise additional capital for financing KQ’s expansion plans, as well as address its debt-capital ratios.
The airline’s group finance director, Alex Mbugua, however, said borrowing projections will not be scaled back since the rights issue had hit the 70 per cent target, which will allow a “comfortable” debt to equity mix.
Mr Mbugua also said that the firm “would not adopt a conservative dividend policy.
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