Kenya Airways is set to trade shares again on the Nairobi Securities Exchange (NSE) following the lifting of a suspension that lasted over four years. The NSE announced the suspension’s end on January 5, citing the airline’s improved financial performance as a key factor.
The decision comes after Kenya Airways reported its first post-tax profit in over a decade for the half-year ending June 30, 2024. The turnaround was attributed to “Project Kifaru,” a strategic initiative aimed at reducing debt and boosting liquidity. Chair Michael Joseph expressed the airline’s commitment to completing a capital restructuring plan to strengthen its financial foundation and support long-term stability.
Another contributing factor to the resumption of trading was the withdrawal of the National Aviation Management Bill, proposed in 2020. The legislation aimed to nationalize Kenya Airways and merge it with other entities under a single holding corporation to address its financial struggles, including mounting debt and annual losses.
The Capital Markets Authority approved the move to lift the suspension, signaling a new chapter for Kenya Airways as it works towards sustainable growth and competitiveness in the aviation industry.