Kenya Airways (KQ) is transforming its operations to boost efficiency and expand its market reach. CEO Allan Kilavuka announced a significant recovery in the airline’s financial performance, alongside plans for fleet and destination growth.
Financial Performance
For the half-year ending June 2024, Kenya Airways reported a profit of KSh 513 million. This marks a remarkable recovery from a loss of KSh 23.7 billion in the same period last year.
Factors contributing to this turnaround include growth in the cargo sector, stabilization of the Kenyan shilling, and increased passenger traffic. This profit represents KQ’s first successful half-year in a decade.
Fleet Expansion Plans
Kenya Airways aims to grow its fleet from 42 aircraft to 55 within five years. The airline will add new aircraft types to streamline operations and cut costs.
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Kilavuka emphasized that this simplification will enhance efficiency and revenue. Recently, KQ received a Boeing 737-800 freighter, increasing its freighter fleet to four.
Destination Growth
In addition to fleet expansion, KQ plans to increase travel destinations from 48 to 60. This strategy aims to enhance connectivity across Africa and beyond.
The airline has already increased flight frequencies on several routes and added new destinations like Eldoret and Maputo.
Cargo Operations
The new freighters will help Kenya Airways capitalize on opportunities from the African Continental Free Trade Area (AfCFTA).
These freighters will boost cargo capacity in key markets across the Middle East, Asia, and Africa, supporting trade within and outside the continent.
Achievements and Recognition
Kenya Airways has received recognition for its operational efficiency. It ranked as the second most efficient airline in Africa according to the latest On-Time Performance Review report.
Additionally, it became the only African airline selected to lead IATA’s Sustainable Aviation Fuel (SAF) Registry, showcasing its commitment to sustainability.
