Kenya Airways Achieves First Operating Profit in Years, Cuts Losses 📈 ✈️ 🇰🇪

Kenya Airways Achieves First Operating Profit in Years, Cuts Losses 📈 ✈️ 🇰🇪

#business
#finance
#transportation
#airlines
#finance
Kenya Airways (KQ) has significantly reduced its net loss for the year ended December 31, 2023, marking the first operating profit in nearly seven years due to increased revenues from a 35% year-on-year growth in passenger traffic. Despite reporting a net loss of $171.9 million, down 47%, the airline's revenues improved by 53% to $1.35 billion, indicating a positive trajectory for the national carrier.

KQ, listed on the Nairobi Securities Exchange (NSE), flew 5 million passengers in 2023, a notable achievement considering its longstanding position in the red since 2012. The company is actively pursuing a capital restructuring plan aimed at reducing financial leverage, funding growth, and enhancing liquidity, signaling its commitment to sustained profitability and operational excellence in the future.


Amid accumulated losses and technical insolvency, Kenya Airways is focused on attracting equity investors and implementing strategic initiatives to restore its financial health and position itself for long-term success in the competitive aviation industry.


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