Kenya Airways dismisses reports Treasury stake has crossed 50%

Kenya Airways/FILE

Kenya Airways has dismissed reports suggesting a change in its ownership structure, maintaining that the National Treasury has not crossed the 50 per cent shareholding threshold as alleged.

In a statement issued on Wednesday, the airline termed the reports misleading and clarified that its shareholding remains unchanged.

“Contrary to information published… regarding the shareholding structure of Kenya Airways Plc, the purported winding up of the Employee Share Ownership Scheme and the National Treasury taking its shareholding beyond the 50 per cent threshold is not factual,” the airline said.

Kenya Airways outlined its current ownership structure, stating that the National Treasury and Economic Planning holds 48.90 per cent, KQ Lenders Company 2017 Limited holds 36.30 per cent, KLM Koninklijke Luchtvaart Maatschappij holds 7.76 per cent, the Kenya Airways Employee Share Ownership Scheme 2018 holds 2.44 per cent and individuals and institutional investors hold 4.60 per cent.

The airline emphasised that any changes to shareholding involving key stakeholders must follow due process as outlined in existing agreements.

“Any significant change in shareholding for the National Treasury and Economic Planning, KQ Lenders Company and KLM Koninklijke is governed by the Shareholders Agreement and will be approved at a General Meeting of the shareholders,” the statement read.

On the Employee Share Ownership Scheme, Kenya Airways clarified that it remains intact and operational.

“The KQ Employee Share Ownership Scheme was duly approved by shareholders, and its shares are not available for trading as they are held in trust for allocation to qualifying staff over time in line with the scheme’s administration conditions,” the airline said.

The carrier also cautioned media houses against publishing unverified information, warning that such reporting could have wider implications.

“Kenya Airways Plc wishes to caution digital and print media outlets against publishing unverified, misleading and sensational headlines whose impact goes beyond acceptable limits,” the statement read.

It added that inaccurate reporting risks undermining confidence among stakeholders and the general public.

“Such misreporting risks not only misinforming the wider public regarding the status of the Company but also undermines the confidence the public and stakeholders have in the airline,” the airline said.

Kenya Airways reaffirmed its commitment to transparency and corporate governance, urging stakeholders to rely on official communication channels for accurate information.

“We remain committed to transparency, good corporate governance and timely disclosure of material information in line with all regulatory requirements,” the statement said.