Kenya Airways soars to profit after 11 years

After over a decade of financial turbulence, Kenya Airways (KQ) has finally recorded its first annual profit since 2012. The national carrier announced a net profit of KSh 10.5 billion ($80 million) for the year ending December 2023, marking a historic turnaround for the airline.  

This milestone comes after years of restructuring, cost-cutting measures, and improved operational efficiency. Increased passenger numbers, higher cargo demand, and strategic route optimizations played a key role in boosting revenue. The airline also benefited from reduced financing costs and government support in restructuring its debt.  

CEO Allan Kilavuka credited the achievement to the relentless efforts of employees, partners, and stakeholders. "This is a testament to our resilience and commitment to rebuilding a stronger KQ," he said.  

While challenges remain—including high fuel costs and competition—this profit signals hope for Kenya’s aviation industry. As KQ continues its recovery plan, travelers and investors alike are optimistic about its future.