• Kenya Airways reported a net loss of 17.12 billion shillings ($132.1 million) in 2025 after a profit in 2024.

• Revenue fell 14% due to an 18% drop in operating capacity linked to grounded aircraft.

• The government is seeking a strategic investor to inject up to $2 billion into the airline.

On March 24, Kenya Airways reported a net loss of 17.12 billion Kenyan shillings ($132.1 million) for 2025, reversing a net profit of 5.4 billion shillings recorded in 2024.

The airline reported a 14% decline in total revenue, which reached 161.47 billion shillings. This performance reflects operational constraints that weighed on capacity and output.

The company attributed the decline primarily to an 18% reduction in operating capacity. The airline grounded three wide-body Boeing 787-8 Dreamliner aircraft due to engine shortages and delays in the supply of critical spare parts.

These disruptions stemmed from ongoing global supply chain constraints that affected aircraft maintenance and availability.

“Even though our financial results reflect a difficult year, it is important to recognize that this situation is primarily due to global supply chain disruptions and not a lack of demand,” said Kiprono Kittony, Chairman of the Board.

George Kamal, Acting Chief Executive Officer, said the company faced “a broader global environment marked by aircraft delivery delays, engine shortages and logistical bottlenecks.”

Kenya Airways returned to profitability in 2024 for the first time in 11 years. The airline benefited from foreign exchange gains as the Kenyan shilling appreciated by more than 20% against the U.S. dollar.

The company also increased capacity by 10%, which supported a 4% rise in passenger traffic to 5.23 million travelers over the year.

The government of Kenya is seeking a strategic investor to support the airline. Local media reported in February that the Treasury is preparing an international expression of interest to attract between $1.2 billion and $2 billion in investment.

Authorities aim to reduce state exposure to loss-making public enterprises and ease pressure on public finances. Kenya Airways has received multiple government bailouts in recent years.

This article was initially published in French by Walid Kéfi

Adapted in English by Ange J.A de Berry Quenum