Kenya Airways has rolled out a fresh turnaround push aimed at pulling the airline out of recurring financial turbulence, with the new leadership revealing that emergency funding has already been secured to steady operations and restore lost capacity.
Kenya Airways chairman Kiprono Kittony says the airline is now working on a structured recovery plan designed to lift it back into profitability after swinging from a historic profit to a heavy loss within a year.
Kittony, who recently assumed the role, said the board is already implementing immediate interventions, including short-term financing from a group of Kenyan banks meant to ease pressure on operations and settle pressing obligations.
“We do have a plan. The new board of Kenya Airways has been tasked with the job of reviving the airline, and we have raised some short-term funding already,” Kittony said.
He explained that the financial support will help the carrier manage outstanding payments to creditors and aircraft lessors while also boosting the number of planes in active service.
“It is going to allow us to meet some of the obligations to creditors and lessors. It will also enable us to raise the amount of equipment that we have in the air,” he said.
The airline had earlier posted a Sh5.4 billion profit for the year ending December 31, 2024, its first positive result in 11 years, before later sliding into a Sh17 billion loss.
Kittony said the new plan is also targeting fleet growth as part of a wider recovery drive, after an earlier attempt to secure a strategic investor worth $2 billion did not succeed.
He noted that the airline expects more aircraft to return to service within months, including the reactivation of a Boeing 777, which is set to operate its first London Heathrow flight on July 17.
“We hope that by the end of this summer, we will have up to four additional aircraft in the air. By the end of the year, we intend to raise our fleet by an extra seven or eight,” he said.
The broader strategy seeks to expand Kenya Airways’ fleet to 68 aircraft over the next three years, alongside a phased restructuring plan that begins with stabilisation financing and later moves to investor recruitment.
The airline is currently working with KPMG on an investment memorandum that will guide the search for a strategic partner, with both local and international investors already showing interest.
“We are open-minded. We will be looking at airline experience, funding capability and access to equipment,” he said.
Kittony added that the ongoing rescue effort is largely being driven by domestic financial institutions.
“The money supporting Kenya Airways right now is Kenyan money. We are providing Kenyan solutions to Kenya Airways’ problems,” he said.
The airline is also betting on improved technology systems and customer experience upgrades as part of efforts to rebuild passenger trust and strengthen competitiveness.