Kenya Airways - 'Pride of Africa' - taking steps to reverse gigantic loss
Higher borrowing costs and unfavourable forex rates lead to country's worst ever corporate results
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Nairobi
WHEN Kenya Airways published the country's worst-ever corporate results last month, the scale of the loss revealed the effects of several disastrous decisions that the national carrier is struggling to reverse.
The airline's "Pride of Africa" slogan rang uncomfortably hollow when the 26.22-billion-shilling (S$348-million) loss was announced, driven by higher borrowing costs and unfavourable exchange rates.
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