AFREXIMBANK In Second Phase Of US$1.9bn Financing

News: Egypt-based African Export-Import Bank (AFREXIMBANK) is in the second phase of financing for Kenya Airways. Under the US$1.9bn financing arrangement, signed in May 2012, Kenya Airways will purchase 10 Boeing aircrafts, including a Boeing 777-300ER and nine Boeing 787-800 Dreamliners. The first phase of the financing, which concluded in November 2013, included delivery of 10 Embraer-190 planes and pre-delivery payments to the aircraft manufacturers. Kenya Airways will receive the delivery of the first Boeing Dreamliner in May 2014, with the rest expected to be delivered by July 2015.

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Geography: Kenya

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