Kenya Airways (KQ) has reported its first after-tax profit in more than a decade, driven by a 10% year-on-year increase in passenger numbers and 16% capacity expansion.
The national carrier achieved an operating profit of Kshs 513 million (3.6m) in the first half of 2024 the first time it has reported a profit after tax since 2013, which is a remarkable turnaround from the Kshs 21.7 billion (152.7m) loss suffered in the first half of 2023.
KQ attributes the growth to its strategic turnaround plan, Project Kifaru, which emphasises customer service, operational excellence, financial discipline, innovation and sustainability.
'The impressive performance reaffirms the operational viability of our business and underscores the effectiveness of the collective efforts by our board, management and staff,' said Kenya Airways Chairman, Michael Joseph .
This achievement underscores the strength and resilience of Kenya Airways as we move forward on our path to sustained profitability.
