Kenya Airways seeks to raise $1.5 billion to modernize its fleet.
Huge funding propels Kenya Airways into a new phase
Written by: Mohammed Omran
Kenya Airways is preparing for the biggest transformation in its history in recent years. The airline is seeking to raise at least US$1.5 billion (approximately 194 billion Kenyan shillings) in new funding as part of its plan to modernize its fleet, return grounded aircraft to service, and expand its network both within Africa and internationally.
During the company’s 50th Annual General Meeting, Chairman Kiprono Kittony revealed plans to launch an international search for a strategic investor, while management outlined its ambitions to increase the fleet size to 60 aircraft by 2030, and then to 100 aircraft by 2035.
This trend comes despite a difficult year that saw a decline in revenues, a decrease in passenger traffic by 13%, and the continued decommissioning of a number of aircraft due to a shortage of engines and maintenance requirements.
Despite these challenges, Kenya Airways is betting on a strong comeback. The airline is working to reinstate a Boeing 777 on the London route, in addition to investing in in-flight Wi-Fi and upgrading passenger cabins.
The company, nicknamed "Pride of Africa," aims to regain its position among the continent's leading airlines in the coming years.
