Kenya Airways Trading Resumes on Nairobi Stock Exchange

Kenya Airways (KQ, Nairobi Jomo Kenyatta) has resumed trading on the Nairobi Securities Exchange (NSE) after a 4.5-year suspension. The suspension was lifted on January 5, 2025, following approval from Kenya’s Capital Markets Authority.

The relisting reflects the airline’s improved financial performance, including a record after-tax profit of KES513 million (USD4 million) for the six months ending June 2024. Additionally, the withdrawal of the National Aviation Management Bill of 2020, which aimed to renationalize the airline, played a key role in enabling the resumption of trading.

Kenya Airways’ shares were initially suspended in July 2020 and faced multiple extensions during the airline’s restructuring efforts. Now, the carrier is focusing on stabilizing its finances as part of the second phase of its Project Kifaru turnaround plan.

Group CEO Allan Kilavuka announced plans to raise up to USD1.5 billion through a strategic investor. The airline recently executed a debt-for-equity swap to strengthen its balance sheet and attract potential investors. Although informal talks with several prospective partners have occurred, formal negotiations are yet to begin.

The relisting marks a significant milestone in Kenya Airways’ recovery journey, signaling renewed investor confidence and setting the stage for future growth.

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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com