- Kenya Airways reported a total profit of KSh 5.4 billion per financial year expiring December 31, 2024, a transition from a loss of KSh 22.7 billion recorded in 2023
- Airline's total revenue grew KSh 188.5 billion, an increase of 5.6% from KSh 178.5 billion reported 2023
- The Nairobi Stock Market removed the stopping of Kenya Airways stock from January 5, 2025, following the airline back in profit
Nairobi – Kenya Airways (KQ) has recorded significant financial changes, and published a total profit of KSh 5.4 billion for the year ended December 31, 2024.
Source: Twitter
The financial year's results released on March 25, 2025 provided a highlifting of a high recovery due to the loss of KSh 22.7 billion reported in the financial year completed in December 2023.
The airline's financial resurrection signifies a restoration of stability after years of operational and financial problems.
Referring to the historic financial performance, Kenya Airways PLC chairman Michael Joseph said;
“These findings not only keep records of the largest passenger and sales in the history of the Kenya Airways airline but also symbolize our strong ability to work with stability. Interesting financial performance emphasizes our ongoing customer commitment, operating quality, financial discipline, cultural change, innovation and sustainability.”
Allan Kilakuka, the CEO and CEO of the Kenya Airways group, emphasized the agency's commitment to maintain sustainability despite the challenges facing the global air travel sector.
“Despite the global challenges facing the air travel industry, such as aircraft, engines and spare parts, our change strategy produces positive results. Kilakuka said.
How is the Kenya Airways financial organization?
According to audited financial statements, Kenya Airways reported a total revenue of KSh 188.5 billion, an increase of 5.6% from KSh 178.5 billion in 2023.
The airline involved improved performance with a combination of large numbers of passengers, strategic reducing measures, and good foreign exchange benefits.
The operation of the Kenya Airways airline rose to KSh 16.6 billion, from KSh 10.5 billion in 2023, with the agency able to control its operating costs, which reached KSh 171.9 billion, despite rising oil prices and operating costs.
Additionally, financial costs decrease significantly to KSh 12.3 billion from KSh 14.5 billion, thus reducing the financial burden for the company.
The success of foreign exchange in the cash flow flower reached KSh 10.5 billion, thus hampering the loss of KSh 15 billion in the previous year.
Source: Twitter
Is the Kenya Airways organization strong?
Despite being in a good financial position, the Kenya Airways airline is still facing major financial barriers as the agency's total debt reached KSh 297.3 billion, less than KSh 317.9 billion recorded in 2023.
Additionally, the company's negative equality remains to be a concern of KSh (118.2) billion, showing that its responsibilities still exceed its assets.
Was Kenya Airways stocks terminated?
Kenya Airways' total revenue for 2024 reached KSh 19.8 billion, in contrast to the loss of KSh 28 billion reported in 2023.
This upgrade is expected to increase the confidence of investors and increase the capacity of the airline to attract funding for its long -term sustainability especially after the capital marketing authorities removed the stopping of Kenya Airways shares from the Nairobi stock market.
Previously, TUKO.co.ke reported that the NSE had removed the suspension of Kenya Airways PLC shares, starting on January 5, 2025, following the agency's benefit and the removal of the 2020 National Aviation Management Bill.
The shares had been suspended since July 2020 because of the impact of the disaster Covid-19 and poor financial performance.
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Source: TUKO.co.ke
