Kenya Airways (KQ) ended 2025 with a hefty Sh17.13 billion loss, marking a dramatic turnaround from the Sh5.4 billion profit the airline recorded in 2024.
Revenue for the year fell to Sh161.47 billion, down from Sh188.5 billion, as the carrier struggled to navigate operational and market pressures.
The airline said its performance was heavily affected by temporary grounding of part of its fleet.
“Overall performance and operations in the year 2025 were severely impacted primarily by the temporary grounding of three of the wide-body fleet, Boeing 787-8 Dreamliner aircraft.
This was driven by the global supply chain constraints and limited engine availability,” the airline explained.
Despite a slight reduction in operating costs to Sh167.08 billion from Sh171.87 billion in 2024, the airline reported an operating loss of Sh5.61 billion, a sharp contrast to the Sh16.62 billion operating profit achieved the previous year.
Finance expenses rose to Sh12.4 billion, partly balanced by Sh79 million in interest income, bringing the pre-tax loss to Sh17.93 billion.
An income tax credit of Sh764 million reduced the net loss attributable to shareholders to Sh17.13 billion, with non-controlling interests adding Sh29 million to the deficit.
Other comprehensive income, including foreign currency gains from cash flow hedges and revaluation of land and buildings, contributed Sh1.42 billion, down from Sh1.93 billion in 2024.
This brought the total comprehensive loss to Sh13.81 billion, compared with a Sh14.38 billion total comprehensive profit a year earlier.
The airline’s basic loss per share was Sh2.94, while diluted loss per share was Sh2.29, compared with basic and diluted earnings of Sh0.95 and Sh0.74 in 2024.
The results underline the challenges the national carrier faces amid grounded aircraft, high costs, and a difficult global operating environment.
