Kenya Airways has announced an after-tax profit of KES5,4bn (R761,1m) for the financial year ending December 2024.
This represents a remarkable turnaround from the previous year's loss of KES22,6bn (R3,1bn), reflecting an improvement of KES28bn (R3,9bn) and a 124% increase in nett profit.
According to Reuters, this is the first time the airline has recorded a profit after more than a decade of losses. It had been in the red since 2013.
The airline said this achievement had significantly strengthened its financial health, positioning it for future growth and stability.
The airline credited the success to the effectiveness of its recovery strategy under Project Kifaru, which has focused on enhancing operational performance through various initiatives and delivering customer service through specific actions.
The airline’s operation highlights of 2024 include a 10% increase in capacity offered, and passenger numbers growth of 4%.
Kenya Airways Chairman, Michael Joseph, said: "These results not only set records for the highest number of passengers and turnover in Kenya Airways' history but also signify our strong operational viability and resilience. The impressive financial performance underscores our ongoing commitment to customer focus, operational excellence, financial discipline, cultural transformation, innovation and sustainability."
