Kenya Airways plans to raise $1.5 billion to support its turnaround strategy, according to statements attributed by local media to Chairman Kiprono Kittony.
Several options are under consideration, including selling a stake in the airline, pursuing strategic partnerships with other carriers, attracting local and international investors, and securing potential government support.
The funds would be used to reduce the carrier’s debt burden, improve liquidity, address operational challenges, and help alleviate equipment shortages caused by aircraft delivery delays and supply constraints affecting spare parts for grounded aircraft.
The fundraising effort comes as the airline, which had begun to recover after more than a decade of losses, has faced a deterioration in its operating environment since 2025. Persistent disruptions in global supply chains, coupled with the impact of geopolitical tensions in the Middle East, have increased pressure on its operations.
In March, Kenya Airways reported a net loss of 17.12 billion Kenyan shillings ($132.2 million) for the 2025 financial year, after posting a net profit of 5.4 billion Kenyan shillings in 2024. According to management, fuel price volatility, driven by regional tensions involving Israel, Iran and the United States, has pushed jet fuel expenses to between 20% and 30% of total operating costs.
If completed, the financing deal could accelerate implementation of the airline’s growth plan, parts of which, including fleet renewal and expansion, have been slowed by current constraints. As part of its long-term strategy, Kenya Airways aims to expand its fleet to 100 aircraft by 2030 from around 30 currently, through a combination of direct purchases and leasing agreements.
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