Kenya Airways has 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.

After net finance costs of Ksh12.320 billion and tax, the bottom line showed the Ksh17.163 billion loss. The net margin turned negative to -10.6 per cent from a positive 2.9 per cent in 2024.

This performance follows a difficult 2025. In the first half alone, the carrier lost Ksh12.1 billion.

Chief Financial Officer Mary Mwenga said the company’s performance declined partly because three of its wide-body Boeing 787-8 Dreamliner jets were temporarily grounded due to global supply chain constraints.

Refreshed board

Kenya Airways also announced a refreshed board only weeks earlier. On 5 March 2026, it appointed Kiprono Kittony as the new chairman and independent non-executive director.

Kittony chairs the Nairobi Securities Exchange and brings strong private-sector experience. Economist David Ndii, who heads the President’s Council of Economic Advisors, joined as a non-executive director. Chris Diaz and Prof Winnie Iminza Nyamute came in as independent non-executive directors.

The new board takes charge as the airline works to restore its fleet, control costs and attract fresh investment. Acting Group MD and CEO George Kamal and Ag. Chief Finance Officer Mary Mwenga hosted a live briefing on the results on the evening of 24 March.

Kenya Airways expects two of its three grounded Boeing 787 Dreamliners to be back in the air by mid-June, Acting CEO George Kamal has revealed. The grounding, which began in early 2025, reduced the airline’s operating capacity by 20 per cent and contributed to a Ksh5.6 billion loss for the year.

“We have liquidity and an investor for early booking. But it is important to note that if you book today, the plane will come between 2030 to 2033,” Kamal said.

CFO Mary Mwenga added, “What we operated in 2025 is 80 per cent of the available capacity. We are still better than 2019, when we recorded Ksh128 billion while operating at full capacity.”

Kamal said the airline also expects two more aircraft by November: a KQ-owned Boeing 777-300 returning from lease to Turkish Airlines and a 170-seater B737 NG joining on lease. To address the 14 per cent revenue drop to Ksh161 billion, the airline is raising capital and restructuring.

“As part of the immediate restructuring of the company, it is institutionalising costs optimisation, eliminating non-essential spending and shifting the fixed costs into valuable wins when possible,” Kamal said.

Chairperson Kiprono Kittony emphasised:

“The fundamentals for our business remain strong. We are not responding to a demand problem but a structural problem. This is a period of reset and not retreat. We are making decisions today to build a stronger, more resilient future.”