NAIROBI, April 1 The African Export-Import Bank
(Afreximbank) said on Tuesday it was in the second phase of a
$1.9 billion financing for Kenya Airways, providing
funding for 10 Boeing aircraft as the national carrier ramps up
Kenya Airways, which is 26.73 percent owned by Air
France-KLM, picked Afreximbank in May 2012 to arrange
financing for the purchase of ten Embraer-190 planes, nine
Boeing 787-800 Dreamliners and one Boeing 777-300ER.
The first phase of the financing, which consists of
pre-delivery payments to the aircraft manufacturers, was
concluded last November with the delivery of all the Embraer
The first of the Boeing Dreamliners is due to arrive next
month, and the rest by July 2015. Kenya Airways will deploy the
first on its Paris route as part of a strategy to expand its
European routes currently being served by ageing Boeing 767s
Among the largest carriers in Africa, Kenya Airways is
ramping up its fleet as part of a 10-year strategic plan
premised on ferrying passengers and cargo into and out of Africa
through its Nairobi hub.
Afreximbank co-ordinates the financing which also involves
Citigroup and JP Morgan Bank.
(Reporting by Duncan Miriri; editing by Sophie Walker)