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KLM to invest EUR48m in Kenya Airways to maintain 26% ownership stake

2-Apr-2012 11:58 AM

KLM announced (27-Mar-2012) plans to invest EUR48 million in Kenya Airways, which is offering shares worth nearly EUR187 million. With the investment KLM, the second largest investor in the carrier after the Kenyan Government, says it maintains the 26% it has held in the carrier since 1995. Kenya Airways says it intends to use the funds it raises in the shares issue to acquire new aircraft, including Boeing 787, 737 and Embraer equipment, replacing 767s. These aircraft will be used to expand the carrier’s networks. KLM and Air France said the number of destinations to Kenya available from Amsterdam Schiphol and Paris Charles de Gaulle airports would grow as a result, with KLM expanding its African destinations to 15 and the carrier combined with Kenya Airways offering 43 weekly services between East Africa and Europe. [more - original PR - Dutch]