Kenya Airways (KQ) has hit back at reports that suggested the National Treasury had taken its shareholding beyond 50 percent. The airline says the stories, which appeared in a local daily and spread across digital media, contain inaccurate information about its ownership structure.

“Contrary to information published …. on 05 April 2026, and other digital media channels regarding the shareholding structure of Kenya Airways Plc, the purported winding up of the Employee Share Ownership Scheme (ESOP) and the National Treasury taking its shareholding beyond the 50 per cent threshold, we wish to clarify that this is not factual,” KQ stated on April 8, 2026.

According to KQ, the National Treasury and Economic Planning owns 48.90 per cent stake, KQ Lenders Company 2017 Limited 36.30 per cent, KLM Koninklijke Luchtvaart Maatschappij 7.76 per cent, Kenya Airways Employee Share Ownership Scheme 2018 2.44 per cent while individuals and institutional investors own 4.60 per cent.

Kenya Airways issues warning

The airline stressed that any major shift in the stakes held by the National Treasury, the lenders’ vehicle or KLM would need formal approval.

“Any significant change in shareholding for The National Treasury and Economic Planning, KQ Lenders Company and KLM Koninklijke is governed by the Shareholders Agreement and will be approved at a General Meeting of the shareholders,” it explained.

The statement also addressed the Employee Share Ownership Scheme directly.

“The KQ Employee Share Ownership Scheme (ESOP) was duly approved by shareholders, and its shares are not available for trading as they are held in trust for allocation to qualifying staff over time in line with the scheme’s administration conditions,” KQ stated.

Kenya Airways went further and warned media outlets against running unverified stories.

“Kenya Airways Plc wishes to caution digital and print media outlets against publishing unverified, misleading, and sensational headlines whose impact goes beyond acceptable limits and serves no purpose other than creating baseless excitement and anxiety among our key stakeholders and the general public,” the statement said.

It added that such reporting harms trust.

“Such misreporting and mispositioning of key facts about the Company risks not only misinforming the wider public regarding the status of the Company but also undermines the confidence the public and stakeholders have in the airline as well as its strategic positioning in the broader aviation sector.”

The national carrier ended the statement on a firm note about its standards.

“We remain committed to transparency, good corporate governance, and timely disclosure of material information in line with all regulatory requirements. For accurate and verified information, stakeholders are encouraged to refer to the Company’s official communications and filings.”

This latest exchange comes at a difficult time for Kenya Airways. The airline continues to battle heavy losses and works on a long-term recovery plan. Recent financial results showed another large net loss for the year ended December 2025.

Kenya Airways reported a net loss of Ksh17.2 billion for the full year ended December 2025 and this marks a sharp reversal from the Ksh5.4 billion profit it posted in 2024.

The airline released its full-year 2025 results on March 24, 2026. Total income fell to Ksh161.473 billion from Ksh188.495 billion the previous year. Operating costs stood at Ksh167.080 billion, which produced an operating loss of Ksh5.607 billion.