Kenya Airways Sells 2 Planes in Bid to pay debts

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The sale was disclosed in a September regulatory filing by UK-based Air Partner, which arranged the transaction on behalf of the Nairobi Securities Exchange-listed national carrier. Restructuring its fleet, including selling aircraft and sub-leasing to other airlines has been one of KQ’s focus areas in recent years as it seeks to return to profitability.

“Air Partner Remarketing has successfully sold and delivered two B737-700 aircraft and a GE engine for Kenya Airways,” the aviation services firm said in the statement. It was not immediately clear whether KQ, as the airline is known by its international code, leased back the aircraft after selling them.

Air Partner had earlier announced that the national carrier planned to lease the airplanes from the undisclosed buyer. The UK firm did not also disclose how much KQ raised from the sale.

A new B737-700 goes for $82.4 million (Sh8.4 billion), according to a price guide by Chicago-based Boeing which delivered the two airplanes to KQ between 2002 and 2003.

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