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Last year, the national carrier ended a 10-year loss-making streak, attributed to a reduction in finance costs. The government, which is the principal shareholder, has taken over KSh 83 billion in loans to facilitate the company’s restructuring plan.
Trading of shares in the listed national carrier Kenya Airways (KQ) on the Nairobi Securities Exchange (NSE) resumed recently after the markets regulator lifted a five-year freeze.The lifting of the suspension, the NSE says, is on the back of the withdrawal of a proposal to nationalise the airline, as well as its improved performance.
In the first half of 2024, KQ swung back into profit for the first time in a decade, posting a net profit of KSh 513 million. About 75, 000 individuals collectively own 2.8% of the national carrier through the stock market. KQ’s share price closed its last trading day before the first suspension at KSh 3.83 per share in July 2020.
Last year, the national carrier ended a 10-year loss-making streak, which it attributed to a reduction in finance costs. The government, which is the principal shareholder, has taken over KSh 83 billion in loans to facilitate the company’s restructuring plan.
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Kenya Airways share trading at the Nairobi Securities Exchange was first suspended in July 2020, when Members of Parliament began reviewing a law to allow the state to take over the airline. The National Aviation Management Bill sought to re-nationalize the national carrier through the establishment of the Kenya Aviation Corporation.
