Kenya Airways recorded the highest ever profit after-tax of sh.5.4 billion for the financial year ending December 31, 2024, marking the national carrier’s first profit in 11 years
The sh.5.4 billion profit marked a 124 percent growth from the sh.22.6 billion loss recorded in 2023, representing a remarkable sh.28 billion improvement.
KQ’s financial results indicate steady revenue growth, increased passenger numbers, and disciplined cost management.
Kenya Airways’ financial results indicate steady revenue growth, increased passenger numbers, and disciplined cost management.
The airline had a turnover growth of 6%, driven by a surge in passenger numbers. Operating profit surged by 58%, showcasing effective financial management.
Passenger numbers grew by 4%, reaching 5.23 million travelers, while capacity offered increased by 10%, measured in Available Seat Kilometers (ASKs).
Kenya Airways PLC Chairman Michael Joseph described the financial turnaround as a historic achievement.
“These results not only set records for the highest number of passengers and turnover in Kenya Airways’ history but also reaffirm our operational strength and resilience. This success reflects our commitment to customer focus, operational excellence, financial discipline, innovation, and sustainability,” said Joseph.
CEO Allan Kilavuka highlighted that while the airline continues to face global aviation challenges, such as aircraft and engine shortages, the turnaround strategy is yielding tangible results.
“We remain committed to securing a strategic investor to ensure long-term sustainability. Our focus is on capital restructuring to enhance liquidity, reduce financial leverage, and strengthen Kenya Airways as an attractive investment,” Kilavuka stated.