Kenya Airways has reported a net profit of 5.4 billion Kenyan shillings (approximately $41.7 million) for the financial year ending December 2024, marking its first annual profit in 11 years. This significant turnaround comes after the airline posted a $174.6 million loss in 2023, reflecting an improvement of $216.3 million year-over-year.
Speaking at the release of the financial results in Nairobi, Kenya Airways Group Managing Director and CEO Allan Kilavuka attributed the success to the company’s turnaround strategy, which has focused on operational efficiency, cost-cutting measures, and revenue diversification. He emphasized that despite global aviation challenges—including shortages of aircraft, engines, and spare parts—the airline’s efforts to enhance performance are delivering tangible results.
The airline’s Chairman, Michael Joseph, hailed the achievement as a historic milestone, noting that Kenya Airways not only achieved profitability but also set new records for passenger numbers and revenue generation. He underscored the airline’s resilience in the face of economic pressures and operational hurdles.
Looking ahead, Kenya Airways aims to sustain its momentum by optimizing its route network, expanding its fleet, modernizing cabin interiors, and diversifying its business segments. The airline also seeks a strategic investor to strengthen its long-term sustainability and competitiveness in the global aviation market.
The airline’s turnaround signals renewed confidence in its recovery strategy, positioning Kenya Airways as a key player in Africa’s aviation sector amid industry-wide challenges.
