Nairobi, June 14 -- National carrier Kenya Airways is seeking to raise at least $1.5 billion (Sh194.4 billion) from a strategic investor to be selected through an international tender expected to open in the coming months.

The $1.5 billion target is lower than the $2 billion initially disclosed by the National Treasury, the airline's largest shareholder.

The capital-raising exercise is expected to conclude by the first quarter of 2027, with the airline betting on fresh funding to support operations weighed down by years of losses and a heavy debt burden.

KQ, as the carrier is known by its international code, says the fundraising initiative remains the most viable route to restoring its financial health.

The government, which holds a 4...