Cash-strapped Kenya Airways (KQ) is selling some of its older planes and land assets to help it through one of its most difficult periods of operation. Over the last year, it has seen a drastic reduction in passenger traffic, a result of external factors like Ebola, terrorism and more recently increased competition from Chinese entrants.

In order to cut its rapidly rising debt profile – which stood at $6 billion as of 2014 – KQ has resolved to sell a Boeing 767, four Boeing 777-200 planes and some land it owns.

Kenya Airways is now hosting fundraisers for the sale of these assets which it believes will keep the business afloat in the short term. “We have a fundraising target in terms of these assets,” said Mbuvi Ngunze, CEO of Kenya Airways. He explained that funds raised will help the company to “deleverage our balance sheet”. However, he did not disclose KQ’s target.

The national flag carrier, in the most recent financial report on its website, lost Sh13.2 billion for the six months ended September 30, 2014. This loss was attributed to attacks by Islamist militants which made tourists avoid the East African nation. Ngunze however offered hope that there may be some recovery during the peak holiday season in July and August,

Kenya Airways has also been unable take advantage of the slump in global oil prices to reduce cost due to its fuel-hedging policy. To worsen the suffering, it was hit by a dispute with the pilots union over an early retirement plan which led to the cancellation of dozens of flights.

At the end of trading on the floor of the Nairobi Securities Exchange on Monday, Kenya Airways’ shares sold at Sh7.25 gaining 2.84 percent over the previous day’s close of Sh7.05.