The Daily Nation reports that, Cash-strapped Kenya Airways has turned to debt to pay its workforce as the national carrier flies under the weight of liquidity flow problems that have seen its debt burden hit Sh70 billion.
Chief executive officer Mbuvi Ngunze said the airline was experiencing tough financial times that had left it with no option but to rely on debt to sustain its nearly 4,000 workforce.
Paying through debt
“...So how am I paying my staff? I am paying them through debt,” Mr Ngunze said when he appeared on Citizen Television’s Business Centre show on Wednesday night.
The national carrier has been going through turbulent times since booking a Sh10.45 billion after-tax loss for the six months to September last year.
It blamed the performance on dampened passenger numbers due to the suspension of flights to Ebola-hit Sierra Leone and Li…