NAIROBI (Reuters) -Nairobi Securities Exchange has lifted a suspension on trading shares of national carrier Kenya Airways, the bourse said on Monday.
“The suspension on the trading of Kenya Airways PLC shares was lifted following the company’s recent performance which saw the company record a profit after tax and the withdrawal of the
National Aviation Management Bill 2020,” the bourse said in a statement.
Kenya Airways’ shares were suspended from trading in 2020, when at the time the government had announced plans to renationalise the airline. The plan did not take off.
One of Africa’s three biggest carriers, Kenya Airways slid into insolvency in 2018 after an expansion drive left it with hundreds of millions of dollars in debt.
On its last day of trade on March 2, 2020, the stock closed at 3.83 shillings a share.
It posted an operating profit of 10.53 billion shillings ($80.38 million) in 2023, the first since 2017.
(Reporting by George Obulutsa; Editing by Tom Hogue and Kim Coghill)
