Kenya Airways will cut about 600 jobs as part of its restructuration plan to restart making profit, the company said in a statement published on March 31.

“We will embark on a restructuring process that will result in approximately 600 members of staff being declared redundant or redeployed elsewhere,” the company said. The company currently employs about 4,000 people according to its latest annual report. Entitled “Operation Pride”, the restructuration plan also aims to reduce the firm’s fleet to 36 planes from 52.

Kenya Airways, whose deficit widened to Sh25.7 billion ($253 million) in its last fiscal year, selected in mid-February American investment bank PJT Partners as its counselor to raise funds in the long term and for the restructuring of its balance sheet.

The airlines company, in which Air France KLM holds 26.7% and Kenyan government holds 30%, chose at the beginning of February consulting firm Deloitte to audit its accounts and examine al financial decisions taken by management over the past six years.