REVEALED: Why Kenya Airways Had to Sell These Two Planes 

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BY OUR REPORTER 
The decision by Kenya Airways to sell two of its planes has now been revealed.

Kenya Airways sold the Boeing 737-700 airplanes in attempts to reduce its fleet in and shore up its financial position

“Air Partner Remarketing has successfully sold and delivered two B737-700 aircraft and a GE engine for Kenya Airways,” the firm stated.

The sale is disclosed in a September regulatory filing by UK-based Air Partner, which arranged the transaction on behalf of the Nairobi Securities Exchange-listed national carrier.
Air Partner had earlier announced that the national carrier planned to lease the airplanes from the undisclosed buyer. The UK firm did not also disclose how much KQ raised from the sale.

READ ALSO,  Kenya Airways suspends flights to China amid public uproar over Coronavirus  scare

A new B737-700 goes for $82.4 million (Sh8.4 billion), according to a price guide by Chicago-based Boeing which delivered the two airplanes to KQ between 2002 and 2003.

Restructuring its fleet, including selling aircraft and sub-leasing to other airlines has been one of KQ’s focus areas in recent years as it seeks to return to profitability.

READ ALSO,  Kenya Airways suspends flights to China amid public uproar over Coronavirus  scare

The company sub-leased two B787-8 Dreamliners to Oman Air and three B777-300ERs to Turkish Airlines in the year ended March, booking a Ksh2.6 billion ($25.2m) loss in the deals.

The company said it will also sell one B777-200ER this year, adding that its fleet restructuring is almost complete.

“The coming year will see a more stable fleet … The focus will be on ensuring the cabin product offered to our guests across the fleet is consistent and of a high standard,” the airline said in the report quoted by the Business Daily.

Simiyu Wakajuaness

Simiyu Wakajuaness is the founder of this news site, a scriptwriter, actor and stage director with ardent passion in media and public relations in this digital world. Follow him on Twitter and Facebook.

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