Kenya Airways, the national airline of Kenya has proposed a private-initiative investment project (PIIP) for the concession for the operation and development of Jomo Kenyatta International Airport over a 30-year period, according to a announcement made by the Kenya Airports Authority (KAA) on January 23, 2019.
“KAA’s board of directors and management have appointed Transaction Advisers to advise PIIP, including a comprehensive and comprehensive project evaluation,” said Jonny Andersen, chief executive officer of KAA.
The PIIP consists in creating a common debt fund (FCC) specifically dedicated to the operation, management and development of the airport. Objective, boost the funds of Kenya Airways who would be in cash trouble in recent years.
Kenya Airways, based in Nairobi, was founded in 1977 after the dislocation of East African Airways. In May 2018, the company was blacklisted for the majority of European airports after the setbacks of multiple hostage takings at Nairobi airport a few months earlier.