Kenya Airways reports Ksh12.1B loss in first half of 2025
By Kenneth Mwenda, August 26, 2025Kenya Airways has returned to the loss-making territory, reporting a half-year net loss after tax of Ksh12.15 billion for the first half of 2025.
This is a sharp decline from the Ksh513 million profit the airline recorded over the same period last year.
The steep 2,369 per cent drop in profitability was largely driven by a fall in passenger numbers. Between January and June, the airline carried 2.2 million passengers, down 14 per cent from 2.54 million in the same period in 2024. The decline in passenger traffic led to a reduction in available seat kilometres (ASKs), which fell 16 per cent to 6.72 billion.
As a result, total revenue for the period declined by 19 per cent to Ksh74.5 billion, from Ksh91.5 billion the previous year. The airline attributed much of this shortfall to three Boeing 787-8 Dreamliners being out of service for maintenance, affecting overall capacity and operational efficiency.
Fleet expansion and recovery
CEO Allan Kilavuka stated that one of the grounded aircraft had resumed service in July, and the airline is working to have its full fleet operational by next year. To support fleet expansion and strengthen operations, Kenya Airways aims to raise at least Ksh64.5 billion in additional capital. The airline plans to identify funding sources and seek shareholder approval by the first quarter of 2026.
The company also reported an operating loss of Ksh6.2 billion for the first half, compared with a Ksh1.3 billion profit during the same period in 2024. Kenya Airways had previously returned to profitability in 2024 after posting its first full-year profit in over a decade, partly due to foreign exchange gains as the Kenyan shilling strengthened against the dollar.
The airline has faced financial challenges for several years, including a near-insolvency in 2018 following an aggressive expansion that left it heavily indebted. Government support has helped stabilise operations, including the repayment of a Ksh19 billion loan earlier this year.