Kenya Airways has reported a KSh16.1 billion loss after tax for the six months ended June 30, 2026, marking a significant increase from the KSh12.2 billion loss recorded during the same period last year.
The national carrier attributed the widening loss largely to rising fuel prices and increased operating expenses, with geopolitical tensions in the Middle East contributing to higher jet-fuel costs.
Fuel Costs Hit Kenya Airways
Kenya Airways said fuel accounted for approximately 32 per cent of its total operating expenses and 52 per cent of its direct operating costs during the period.
The increase in fuel expenses came despite efforts by the airline to manage its costs amid challenging operating conditions.
The carrier has also continued to face aircraft availability and maintenance challenges caused by global shortages of spare parts and other components.
These constraints have reduced the number of aircraft available for operations, limiting KQ’s capacity to fully meet passenger demand while also increasing its operating costs.
Revenue Grows Despite Reduced Capacity
Despite the larger loss, Kenya Airways recorded 9 per cent growth in revenue to about KSh81 billion during the six-month period.
The revenue increase came even as the airline’s capacity declined by 9 per cent.
KQ attributed the improved revenue performance to stronger aircraft utilisation, a better cabin factor and resilient passenger demand across its network.
The airline said the results demonstrate continued demand for its services despite the challenging operating environment.
KQ Outlines Recovery Measures
Kenya Airways said it is implementing several measures aimed at improving its financial position and returning the airline to greater stability.
The strategy includes tighter cost management, restoring fleet capacity, conserving cash and reducing leverage.
KQ is also working to complete its capital-raising programme as it seeks to strengthen its balance sheet and support its long-term recovery.
The airline continues to face significant financial and operational pressures, with fuel prices, aircraft availability and global supply-chain constraints remaining key challenges to its recovery.
