Kenya Airways Posts First Profit in 11 Years

NAIROBI, Xinhua: Kenya Airways, the country’s national carrier, said on Tuesday that it recorded a net profit of 5.4 billion Kenyan shillings (about 41.7 million U.S. dollars) in the financial year ending December 2024, up from a loss of 174.6 million dollars recorded in 2023, after more than a decade of losses.

During the release of the financial results, Allan Kilavuka, group managing director and chief executive officer of Kenya Airways, said in the Kenyan capital of Nairobi that the profit represents a remarkable turnaround, reflecting an improvement of 216.3 million dollars.

Kilavuka said the airline remains focused on attracting a strategic investor to ensure long-term sustainability. Despite the ongoing global challenges facing the aviation industry, such as shortages of aircraft, engines, and spare parts, its turnaround strategy is yielding positive results.

Michael Joseph, chairman of Kenya Airways, said the results not only set records for the highest number of passengers and turnover in the airline’s history, but also demonstrate its strong operational viability and resilience.

According to the carrier, it plans to optimize its network, invest in fleet expansion, modernize cabin interiors, and diversify business segments to ensure sustainable growth while adapting to the evolving dynamics of the aviation industry.