Kenya Airways Suspended From Trading At The NSE

The Capital Markets Authority (CMA) has suspended Kenya Airways shares from trading at the Nairobi Securities Exchange (NSE) following a successful application.

Kenya Airways had applied for the suspension of the trading in its shares until the resolution of its future is determined by the government.

The National Assembly passed a resolution to have KQ nationalized to cushion it from collapsing following massive losses and debts from banks and investors.

The government currently owns a 48.9 percent stake of Kenya Airways, KLM 7.8 percent, and the rest by other shareholders. The national airline has been through a financial turmoil that has seen it unable to register profits for years.