Kenya Airways monopolises Nairobi freight services

Nairobi- Kenya (PANA) -- Negotiations are almost complete for Kenya Airways (KQ) to acquire African Cargo Handling Services Limited (ACHL), its major competitor in ground aircraft and cargo handling at Nairobi's Jomo Kenyatta international airport (JKIA).
The Nairobi Stock Exchange and the Capital Markets Authority have already been officially apprised of the 21.
4 million US dollar deal.
"The exchange would be advised on further developments in due course," said Kenya Airways secretary Lewis Kamau.
Kenya Airways already commands about 90 per cent of the domestic passenger market and over 70 per cent of the international passenger traffic.
The 100 per cent acquisition of ACHL would give the airline a comfortable command of cargo handling at JKIA.
The deal ties in with the recent formation of Kencargo Airlines Limited, a sales and service venture jointly owned by KQ, the Dutch airline KLM and Martinair.
KLM has a 26 per cent stake in KQ.

21 may 2001 16:36:00




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