sky

Air France expands North Korea no-fly zone after missile miss

Air France-KLM has expanded its no-fly zone over North Korea after one of its jets flew past the location where an intercontinental ballistic missile splashed down 10 minutes later, an airline spokesman said Thursday. Air France's flight 293, a Boeing 777 carrying 323 people from Tokyo to Paris, missed North Korea's latest ICBM as it fell to earth July 28 by about 100 km, the spokesman said, citing flight data provided by Japan. Air France-KLM flies direct to Tokyo and Osaka and the expansion of the no-fly zone could make the flights 10 minutes to 30 minutes longer, depending on the direction, the spokesman said. North Korea said Saturday its latest ICBM test proved its ability to strike America's mainland, drawing a sharp warning from US president Donald Trump and a rebuke from China. <br/>

Banks reject Kenya Airways’ stake offer

Some banks opposed to the restructuring of Kenya Airways Thursday threw a spanner in the works, obtaining a court order to nullify resolutions endorsing the plan. Kenya Airways management Thursday met creditors, including the govt and 11 lenders, and resolved to convert the combined KES50.2b debt owed them by the airline into shares. However, the resolutions of the meeting were nullified by a ruling in a petition filed by some of the lenders pending a hearing next week. “Someone successfully filed a court injunction until the matter is heard Aug 10,” a source said. The carrier had forced an affirmative vote from most of the lenders. However, Equity Bank, Jamii Bora Bank, and Ecobank dissented. Kenya Airways needed at least 75% of the creditors, with a cumulative unsecured debt of KES37.65b, to okay the deal. <br/>