Kenya Airways (KQ, Nairobi Jomo Kenyatta) has secured a KES4.2 billion (USD43 million) loan from the government of Kenya which holds a 29.8.% stake in the ailing airline. Mutava Musyimi, chairman of the Kenyan Budget and Appropriations Committee, said in a report that the funding was necessary to help the national carrier survive a turbulent period.

The airline this year has been hit hard by the West African Ebola outbreak and al-Shabaab attacks on the country's north which have dramatically affected tourist arrivals.

“Kenya Airways is facing challenges because their revenues have gone down due to the Ebola epidemic and the slump in tourism, therefore the Carrier has been given a loan of KES4.2 billion through the supplementary estimates,” the report said.

Last month, Kenya Airways said it would be disposing of its B777-200(ER) and B777-300(ER) fleets in a bid to cut costs while transferring its remaining B787-8s on order from Boeing (BOE, Washington National) to sale/lease-back agreements. CEO Mbuvi Ngunze has also confirmed that the airline would be selling off a parked B767-300(ER), 5Y-KYX (msn 24484), and a 30-acre piece of land in Embakasi, Nairobi, to help shore up its finances.