Kenya Airways has finally taken off with a profit, ending a decade of financial starvation. The national carrier has recorded a 513 million profit in the 1st quarter of 2024. This is after a decade-long profit drought. In the 11 years of turbulence, the national Carrier was battling demons including the debilitating debts that were paralyzing its operations. This remarkable turnaround has been significantly driven by a major restructuring of its debt. This revival was largely facilitated by the national Treasury’s intervention, which assumed responsibility for a substantial Sh82.7 billion loan burden that had previously encumbered the airline.
As Kenya Airways posts a significant profit, President William Ruto has now taken Credit following KQ’s onset to triumph. He highlighting his administration’s pivotal role in the airlines dramatic recovery. He credits the impressive return to profitability not only to his government’s relentless initiatives but also to the comprehensive reforms. Additionally, He underscores that the turnaround is indeed the fruit of strategic policies and steadfast commitment. Moreover, these measures were crucial in revitalizing the national carrier.
KQ’s success has ignited mixed reaction among Kenyans on platform X. A handful of skeptics argue that the reported profits have allegedly been doctored. They claim that the positive news are intended to pacify public discontent following recent anti-government protests. Conversely, a more optimistic group of Kenyans is praising the national carrier. They have urged the airlines not to let loose, but to instead build on this positive trend.
According to Kenya Airways, it’s impressive growth is courtesy of the ambitious Project Kifaru. This transformative plan zeroes in on five key pillars: delivering an exceptional customer experience, excelling in operations, maintaining robust financial discipline, driving innovation, and championing sustainability. Kenya Airways Chairman, Michael Joseph has noted that the triumph is as a result of collective effort. He says that the company is committed to to maintain the profitability trajectory. “This achievement underscores the strength and resilience of Kenya Airways as we move forward on our path to sustained profitability.”