Kenya Airways plans to restore and expand its fleet despite reporting a half-year loss of KES12 billion (R1,6 billion) compared with a profit of KES513 million (R70 million) reported in H1 2024.
The airline claimed that the loss was due to the temporary grounding of three of its aircraft and the subsequent drop in capacity in its wide-body fleet and revenue.
“We are encouraged by the resumption of one of our grounded aircraft in July, and we look forward to bringing the remaining two back into service later in the year,” said Allan Kilavuka, CEO of Kenya Airways.
Kilavuka revealed in an investor briefing that the airline planned to raise US$500 million (R8,9 billion) to expand its fleet, reports Reuters.
“Our focus remains clear: restoring full fleet capacity, advancing cost optimisation, and completing our capital raising programme to strengthen our balance sheet. In the face of these challenges, passenger demand for international routes remains robust,” said Kilavuka.
