Kenya Airways is aiming for profitability in 2024 as part of its strategy to attract strategic investors. Speaking at the airline’s 48th Annual General Meeting, CEO Allan Kilavuka highlighted a remarkable 44 percent growth in capacity throughout the fiscal year 2023. This significant increase is a testament to the airline’s recovery efforts and operational improvements amid challenging industry conditions.
Kilavuka reiterated Kenya Airways’ commitment to its turnaround strategy, Project Kifaru, which is centered on completing the capital restructuring plan. The focus on financial restructuring is intended to achieve stability and set a solid foundation for future growth. By reaching profitability, Kenya Airways hopes to enhance its appeal to potential investors, paving the way for new partnerships and long-term sustainability.
Kenya and India are in advanced talks for a loan facility of Sh32.2 billion (USD 250 million) to enhance trade Read more
Governor Johnson Sakaja recently distributed 1,000 title deeds in a ceremony held at Charter Hall. This event marks another significant Read more
Saudi Arabia's Crown Prince Mohammed bin Salman (MBS) made a strong statement on Wednesday, September 18, 2024, reaffirming that the Read more
Germany’s Economics Minister, Robert Habeck, has called for a political resolution between the European Union (EU) and China. His remarks Read more
Russian President Vladimir Putin has signed a decree extending the country's food embargo on imports from Western nations for an Read more
The Tourism Fund is under fire for accumulating Sh3.4 billion in interest penalties due to delayed payments in the construction Read more