Kenya Airways reports record KSh5.4 billion profit

Kenya Airways PLC reported a net profit of KSh 5.4 billion for the financial year ending December 31, 2024, marking its first full-year profit in 11 years after a loss of KSh 22.6 billion the previous year. This turnaround reflects a significant improvement of KSh 28 billion and a 124% increase in net profit, attributed to the successful implementation of its recovery strategy, Project Kifaru. Passenger numbers increased by 4% to 5.23 million, while total revenue rose by 6% to KSh 188.5 billion. The airline's operating margin improved from 5.9% to 8.8%, with a notable 58% increase in operating profit. Chairman Michael Joseph emphasized the airline's commitment to operational excellence and customer service, while CEO Allan Kilavuka highlighted ongoing efforts to attract a strategic investor for long-term sustainability. The results signify a strong operational viability and resilience for the national carrier amidst ongoing global aviation challenges.