Kenya Airways (KQ, Nairobi Jomo Kenyatta) has initiated talks with an undisclosed Middle Eastern carrier regarding a possible stake acquisition Kenya's Daily Nation has said quoting undisclosed company sources.

According to the paper, among the carriers the Kenyan national airline has approached include Qatar Airways (QR, Doha Hamad International) and Emirates (EK, Dubai International). Any potential deal, however, would be subject to scrutiny from 26.73% shareholder, KLM Royal Dutch Airlines (KL, Amsterdam Schiphol).

Kenya Airways' finances have borne the brunt of the recent Ebola virus outbreak in West Africa as well as a spate of Al-Shabaab terrorist attacks which have severely impacted the East African country's tourism-based economy.

In a bid to alleviate mounting financial pressure, the airline recently announced plans to return its fleet of three B777-300(ER)s to their lessor by year-end while selling off a variety of assets including its four B777-200(ER)s, a stored B767-300(ER), and real estate investments. Last week, it also signed a sale-leaseback agreement with Irish lessor Ansett Worldwide Aviation Services (AWAS) covering three B787-8s it had ordered directly from Boeing (BOE, Washington National) back in 2006.