Kenya Airways has announced that it has recorded the highest ever profit after-tax of KShs 5.4 billion for FY2024, marking its first profit in 11 years.

According to the company the 2024 financial results reflect a year of disciplined execution and steady progress in its turnaround plan. Total revenue grew by 6% to KSh 188 billion, mainly driven by 4% higher passenger numbers and 25% growth in cargo tonnage.

“In 2024 Kenya Airways reaffirmed progress in its turnaround strategy, Project Kifaru, resulting in the highest number of passengers that the airline has ever uplifted, the highest turnover and highest profit attained in the history of the airline.” – Michael Joseph Chairman,

In 2023  Kenya Airways PLC (KQ) recorded a 120% improvement in operating profit from a loss of Kshs 5 billion reported in 2022 to Kshs 998 million in 2023. In the 2023 Half Year results reported, the Group’s revenue grew to Kshs 75 billion, recording a 56% increase compared to the same period last year. The operating improvement was underpinned by a growth in the cabin factor to 76.1%, with an increase in passenger numbers of 43% to 2.3 million. 

“We are grateful to the Government of Kenya and our investors for their unwavering support as we continue to build a stronger, more sustainable airline. Kenya Airways is ready for the future connecting Africa to the world, and the world to Africa.” – Allan Kilavuka, Group MD & CEO – Kenya Airways