Kenya Airways seeks fresh capital, eyes new national airline deal in recovery push

National carrier Kenya Airways (KQ) has revealed its strategic plan to achieve full recovery amid financial upsets.

Speaking in Mombasa on Thursday, Kenya Airways Chairman Kiprono Kittony intimated that the airline is on steady pace to seek capital boosts.

Mr. Kittony said they will start with securing short term emergency funding to meet the immediate needs.

He added that KQ will bank on its listing as a Public Limited Company (PLC) to provide investment opportunities through the stock market.

“There is a plan and you’re going to see a stronger and more robust airline. We are planning to bid for becoming a national airline for another country,” he said.

The KQ chairman further dismissed fears that they will ring down the curtain, saying that the airline is aligned with the nation’s economic agenda which presents assured profits in their operations.

He said the agenda aims to make Kenya a leading exporter of agricultural commodities and other goods, positioning the airline as the nexus of a major economy growth.

Other avenues of growth, he said, will be aided by the plan to expand the airport which he said will significantly boost tourism capital.

“We will maximize on the resources in the continent. We have arable land for agricultural production and its high youthful population,” he added.

Likewise, KQ Acting CEO George Kamal said that the airline is geared towards developing customer confidence and financial stability.

“Kenya Airways is more than an airline, it is a strategic national instrument. Nairobi serves as the main investment entry in the nation,” Kamal noted.

Chairman Kittony, who occupied his position on March 5, 2026, also admitted that the frequent leadership changes are not ideal for the airline’s steady growth.

He said that it can easily cause institutional mishaps like investor confidence and business synergies.

The airline has had a series of leadership changes from 2003.

Titus Naikuni (2004-2014) led the airline to expand its fleet but created massive debt exposures.

Record losses exceeding Ksh.25 billion were later recorded between 2014-2017 under Mbuvi Ngunze’s tenure.

A turnaround mission led by Sebastian Mikosz until 2019 was then seen as he focused on renegotiating debt and cost cutting but the airline remained financially strained.

Allan Kilavuka took over from 2020 during the COVID-19 pandemic, where significant losses were seen but a major recovery was recorded in 2024.

KQ recorded its first profit in many years, reporting to have made Ksh.5.53 billion in pretax profits compared to a loss of Ksh.22.86 billion the previous year.

The airline attributed the growth to foreign-exchange gains of Ksh.10.55 billion and the strengthening of the shilling against the dollar.

Captain Kamal took over on December 2025 from serving as the airline’s Chief Operating Officer (COO).

He has vowed thatchallenges like post-COVID fragility and debt will not cripple the airline from dominating the continental airspace.