KQ Airways

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Kenya Airways Ltd. (“Kenya Airways”, “KQ” or “the Company”), an IFC client and a leading African airline, is seeking financing from IFC to support the implementation of its strategic fleet and network expansion plan focused on growing its passenger network and diversifying its fleet to match the network needs as well as launching a dedicated freighter division (the “Project”). Having reached a critical mass and achieved a solid financial position, KQ finds itself well positioned to capitalize on the growth prospects and opportunities that the African region and the international market presents. KQ’s strategic intent is to establish its brand and its presence in the most important intra African markets as well as become a significant player in long haul origin-destination city pairs that are expected to grow over the next few years. To implement the Project, the Company has already placed firm orders to aircraft manufacturers in connection with the acquisition of nine Boeing 787 Dreamliner aircraft and ten Embraer 190 aircraft. KQ will also incur additional capital expenditures such as spare engines and hangar construction related to its fleet expansion.