Kenya Airways freezes sale of assets, steps up growing airline tickets

Kenya Airways has frozen the sale of its assets and will instead focus on growing sale of airline tickets to generate enough cash to meet its obligations. Disposal of some of its assets had formed part of its recovery plan, which was in addition to the restructuring concluded last year and which reduced the stock of debt as creditors converted loans into equity. The sale of substantial chunks of land in Embakasi had earned the airline billions and injected cash in its business that has been critical to enable it meet its obligations in the face of losses the airline has been reporting. Kenya Airways CE Sebastian Mikosz said the airline had stopped sale of assets such as buildings and land, as they could come in handy while seeking credit from financial institutions. <br/>