Kenya Airways returns to profitability for first time in over 10 years

Kenya Airways has reported its first net profit in over a decade. It reported profits of Kshs 513 million ($3.96 million) during the first half of the year. This is in stark contrast to the Kshs 21.7bn ($167.5 million) loss it reported during the same period of last year. During the half – Kenya Airways experienced a 10% increase in passenger numbers – with the airline serving a total of 2.54 million passengers. Airline capacity also saw an increase of 16%, while revenue passenger kilometres (RPK’s) improved by 14%. This increase in passenger numbers contributed to a rise in total revenue by 22% to Kshs 91bn ($702.7 million) for the six-month period. ""Our financial results are a clear indication that our strategic initiatives are delivering the desired outcomes,” said Allan Kilavuka, CEO of Kenya Airways. He added: “We have focused on strengthening our core operations, enhancing our customer service, and exploring new avenues for growth. This performance positions us in good stead to navigate the challenges of the aviation industry and prepare for future growth.” Operating costs increased 22% to Kshs 90.1bn ($698 million). ""The impressive performance reaffirms the operational viability of our business and underscores the effectiveness of the collective efforts by our board, management, and staff,"" said Kenya Airways chairman, Michael Joseph. “This achievement underscores the strength and resilience of Kenya Airways as we move forward on our path to sustained profitability.”