Kenya Airways Posts Historic KShs 5.4 Billion Profit, Marking Major Turnaround
Kenya Airways PLC has recorded a remarkable after-tax profit of KShs 5.4 billion for the financial year ending December 31, 2024, marking a significant turnaround from a KShs 22.6 billion loss reported the previous year. This represents an impressive KShs 28 billion improvement and a 124% increase in net profit, signaling renewed financial stability and growth prospects for the national carrier.
The airline attributes this unprecedented success to its Project Kifaru recovery strategy, which has focused on enhancing operational performance, cost management, and customer service improvements.
Financial and Operational Milestones Turnover increased by 6%, driven by higher passenger numbers.Operating profit surged by 58%, reflecting effective cost-control measures.Passenger numbers rose by 4%, reaching a record 5.23 million travelers.Capacity increased by 10%, as measured in Available Seat Kilometers (ASKs).
Despite a competitive market, ticket yields remained stable.Leadership Commends Historic Performance.
Kenya Airways Chairman Michael Joseph lauded the milestone, noting, “These results not only set new records for passenger numbers and turnover but also reinforce our operational resilience and financial discipline. Our unwavering focus on customer satisfaction, innovation, and sustainability has played a key role in this success.”
Group Managing Director and CEO Allan Kilavuka reiterated the airline’s commitment to attracting a strategic investor to ensure long-term sustainability.
“Despite global industry challenges such as aircraft and engine shortages, our turnaround strategy is proving effective. We remain focused on restructuring our capital to enhance liquidity and strengthen investor confidence,” he said.
enya Airways is set to expand its fleet, modernize cabin interiors, optimize its route network, and diversify business segments to maintain long-term profitability. As the airline charts its path forward, it aims to adapt to the evolving aviation landscape while reinforcing its position as a key player in the global market.
