KLM to invest millions in Kenya Airways

31st March 2012, Comments 0 comments

KLM has announced it is investing 48 million euros in partner airlines Kenya Airways, which is offering shares worth nearly 187 million euros.

With the investment KLM says it maintains the 26 percent stake it has had in Kenya Airways since 1995. Kenya Airways says it intends to use the funds it raises in the shares issue to buy better aircraft and expand its routes. KLM and its sister company Air France say the number of destinations to Kenya available from Amsterdam’s Schiphol and Paris’ Charles de Gaulle airports will grow as a result. Since 2010 Kenya Airways has been part of the SkyTeam consortium, which comprises Air France-KLM among other airlines.

Whereas KLM has frozen its investments in many other regions, in Europe in particular, investments are going ahead in Africa, which KLM head Peter Hartman says is “a continent growing at full speed.” KLM is consequently expanding its African destinations This week, KLM launched its flights to the Angolan capital Luanda. In May it expects to add Zambian capital Lusaka to its African network. cl

© Radio Netherlands Worldwide

 


© Radio Netherlands Worldwide

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