Kenya new airline promote commercial relationship between Africa region
Tag: Africa region, Kenya new airline
Summary: Kenya Airways is to launch flights to New Delhi on 15 May 2012.The new service marks Kenya Airways’ 57th global destination and 2nd in India.
“New Delhi is the second city after Mumbai that we will be flying to India, we intend to open four more destinations in the sub continent as part of our 10 year expansion strategy,” said Dr. Titus Naikuni, Kenya Airways Group Managing Director & Chief Executive Officer.
Kenya Airways is to launch flights to New Delhi on 15 May 2012.The new service marks Kenya Airways’ 57th global destination and 2nd in India. The airline will fly to New Delhi four times a week on a Boeing 767-300.
lndia has been aggressively promoting trade with Africa as it seeks to gain access to the continent’s emerging markets. The new route to Delhi seeks to expand and promote the bilateral and commercial relations between India and the African region.
India’s economic growth has averaged around 7% each year since 1997, making it one of the world’s largest emerging markets.
According to industry forecasts, traffic flows between sub-Saharan Africa and India are expected to grow at a rate of 7.1% per annum over the next decade.
India is also Kenya’s sixth largest trading partner, with a vast business presence in the country. Recently, Kenya-India relations have improved buoyed by increasing bilateral trade that hit US$4.8 billion in 2010/2011.
Recently, the airline announced a right issue offer to be launched on 30 March 2012. The company hopes to raise Kshs20.7 billion from its shareholders.
Proceeds from the rights issue are projected to fund implementation of an ambitious 10-year expansion plan dubbed Project Mawingu; which would see the airline increase it number of destinations from the current 56 to 115 destinations by the year 2021.