Kenya Airways posts Highest Net Profit in History

This is its first full year profit in 12 years.

In a statement issued by the company chairman Michael Joseph on the 25^th of March, 2025, market capacity increased by 10% to Kshs 16.227 Billion Available Seat Kilometres (ASKs), up from Kshs 14.804 Billion in the previous year. The uptake of this capacity, measured in Revenue Passenger Kilometres (RPKs), improved by 5%, resulting in a cabin factor of 75.2%.

Total revenue grew by 6%, to Kshs 188 Billion, driven by a 4% increase in passenger numbers as well as 25% growth in cargo tonnage.

Total costs was 9% lower than the year prior mainly due to savings on overheads as well as reduction in the net finance costs as a result of the stable Kenyan currency. Direct operating costs was, however, up by 8% whereas fleet ownership costs increased by 5% in line with the increase in the capacity deployed.

KQ Group CEO Allan Kilavuka opined that this is testament that the airline’s recovery strategy is bearing fruit, and that its turnaround strategy, dubbed Project Kifaru, is progressing successfully. He added that 2024 has seen the highest number of customers that the airline has uplifted, and the highest turnover attained in the history of the airline.

Mary Mwenga, KQ’s Ag Chief Financial Officer, stated that the financial results reflected a year of disciplined execution and steady process in the airline’s turnaround plan. She added that the airline’s continued focus on cost management and restructuring initiatives delivered tangible results, keeping the airline on the path towards profitability.

Operating Highlights:

• Capacity offered in terms of Available Seat Kilometres (ASKs) increased by 10%

• Cabin factor was 75.2%

• Passenger numbers grew by 4% to 5.23 million from 5.04 million

• Yield remained at par with prior year despite increased market capacity

Financial Highlights:

• Turnover higher by 6% due to higher passenger numbers

• Direct operating costs 8% up in line with increased capacity

• Operating profit higher by 58%

• Profit after tax improved by 124%.

Kenya Airways currently has a fleet size of 35 aircraft.

It received two Boeing 737 Cargo aircraft; (Tail Number 5Y-KYA and 5Y-KYB) in 2024, and got another additional passenger Boeing 737 (Tail Number 5Y-CYF) in February 2025.

The airline resumed direct flights between Nairobi and Maputo (Mozambique) during the year and expanded its destinations to Eldoret (Kenya) and Mogadishu, the capital of Somalia.

According to the airline’s Group Managing Director and CEO, Allan Kilavuka, the airline is still focused on attracting a strategic investor to ensure long-term sustainability. “Despite the ongoing global challenges faced by the aviation industry, such as shortages of aircraft, engines, and spare parts, our turnaround strategy is yielding positive results. Kenya Airways is focused on completing its capital restructuring plan, whose main objectives are to reduce the group’s financial leverage and increase liquidity to ensure that the company can operate at normalized levels.”

Mr Allan Kilavuka thanks the Kenya Airways staff, the Government of Kenya, the customers, partners and investors for their unwavering support in building a stronger and more sustainable airline.

Kenya Airways is ready for the future; connecting Africa to the world, and the world to Africa!!