Kenya Airways Shares Resume Trading After Suspension

Trading of Kenya Airways PLC shares on the Nairobi Securities Exchange has resumed after a nearly five-year suspension, lifted due to the airline's return to profitability and the withdrawal of a proposal to nationalize the carrier. The airline reported a net profit of KSh 513 million in the first half of 2024, marking its first profitable period in a decade, attributed to increased passenger numbers and improved operational performance. The suspension, originally implemented in July 2020 amid financial struggles and the COVID-19 pandemic, was extended multiple times to allow for restructuring. Following the lifting of the suspension, the shares initially surged but later settled at lower levels. The Kenyan government, as the largest shareholder, has provided significant financial support to stabilize the airline, which has faced insolvency issues in recent years. CEO Allan Kilavuka emphasized the effectiveness of the airline's strategic turnaround initiatives, which are aimed at sustaining financial recovery and growth.