Kenya Airways has announced plans to publicly disclose details regarding potential new investors within the coming weeks. The announcement follows a challenging financial period characterized by widening losses, soaring fuel expenditures, and persistent global supply chain bottlenecks affecting aircraft maintenance.
Speaking to local and international media, Kenya Airways Chairman Kiprono Kittony confirmed that the carrier has drawn substantial interest from local and international entities looking to inject vital capital and strategic resources into the airline. As a publicly listed company on the Nairobi Securities Exchange, management has emphasized that the selection process will remain transparent while targeting both capital-raise and strategic industry partners.
The push for fresh capital comes on the heels of Kenya Airways releasing its financial results for the first half of the year. The airline posted a widened pre-tax loss of 15.92 billion Kenyan shillings (approximately $123 million), compared to a loss of 12.17 billion shillings during the same period in the previous year.
Management attributes the steeper deficit largely to external macroeconomic shocks, most notably a dramatic surge in jet fuel costs. Escalating tensions and conflicts in the Middle East drove fuel expenses up by 72%, compounding operational strains. Fuel currently accounts for up to half of the carrier’s total operating costs. Furthermore, prolonged maintenance delays and acute shortages of spare parts for engine components have constrained fleet availability, preventing the airline from fully capitalizing on strong passenger demand across its route network.
Despite these hurdles, the airline’s leadership remains optimistic about attracting robust financial backing. Chairman Kittony revealed that prospective investors hailing from major international markets—including the United States, China, South Africa, and Singapore—have expressed keen interest in partnering with the carrier.
A central pillar of the ongoing restructuring strategy involves cleaning up the airline’s debt-laden balance sheet. Proposals under consideration include converting principal debt owed to the Kenyan government and a consortium of local banks into equity. Such a debt-to-equity swap would significantly alleviate ongoing liquidity pressures.
Crucially, the Kenyan government—which remains the airline’s largest shareholder—intends to safeguard national interests throughout the process. Kittony stressed that maintaining state equity control is a strategic imperative to preserve the carrier’s official national status. By successfully bringing on board strategic aviation partners alongside capital injection funds, Kenya Airways aims to restore grounded aircraft, expand operational capacity, and steer the business back toward sustainable long-term profitability.
