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Source: http://www.theeastafrican.co.ke/new...ith--10m/-/2558/2390198/-/yjpnm3/-/index.html
- Kenya Airways has agreed to inject $10 million into Tanzanias Precision Air in a bailout plan.
- The private carrier hopes proposed bailout will boost its turnaround.
- KQ agreed to the injection on condition that the airline would sell or lease back five of its remaining nine aircraft, retrench more than a fifth of its staff, outsource some functions and draw up a plan to reduce debts while improving cash flow.
Source: http://www.theeastafrican.co.ke/new...ith--10m/-/2558/2390198/-/yjpnm3/-/index.html