Nairobi – Kenya Airlines (KQ) recorded a profit of Sh 5.4 billion after the full year tax, which ended last December. This is an improvement due to the loss of Sh 22.6 billion reported during a similar period in 2023.
Domestic airlines believe the improvement in profits was attributed to increased operating profits, a surge of 58%.
Similarly, airlines increased 10% to increase the number of available kilometers (ASKS), while passenger numbers increased by 4% to 5.23 million.
Allan Kilavuka, the airline’s MD and CEO, added that the airline is still focused on attracting strategic investors to ensure long-term sustainability.
“Despite the ongoing global challenges facing the aviation industry, including the shortage of aircraft, engines and spare parts, our transformation strategy has produced positive results,” Kirabuka said.
“We are dedicated to completing our recapitalization plan to reduce financial leverage, increase liquidity and remain an attractive investment for strategic investors.”
To increase revenue, KQ plans to optimize its network and invest in expanding its fleet, modernize its cabin interiors, and diversify its business segment.
