Kenya Airways’ revenue grew 9% to KSh81 billion for the six months to June 30, 2026.
The national carrier attributed the growth to resilient passenger demand, stronger aircraft utilisation and improved commercial performance. Its cabin factor improved by four percentage points, while average coupon values remained strong.
However, higher operating costs continued to weigh on the airline’s financial performance.
Fuel Costs and Fleet Constraints Weigh on Performance
Kenya Airways’ fuel costs costs were up 32% year-on-year in the first half of 2026. This is as a result of higher jet fuel prices driven by tensions in the Middle East. Fuel costs made up about 32% of the airline’s total operating expenses and 52% of direct operating costs.
The airline also faced continued global supply-chain challenges, including shortages of aircraft spare parts and delays in component availability. These constraints affected aircraft availability and operational reliability.
As a result, total operating costs increased by 14%, pushing Kenya Airways’ loss after tax to KSh16.1 billion, compared with KSh12.2 billion in the same period last year.
“We grew revenue by 9% to KSh81 billion despite operating with 9% less capacity,” said Dr. George Kamal, Acting Group Managing Director and CEO of Kenya Airways.
The airline expects fleet availability to improve following the return of additional aircraft. A Boeing 787-8 resumed operations in July, while a Boeing 777-300ER has also been redelivered and returned to service.
Kenya Airways said its priorities for the remainder of the year include restoring fleet capacity, reducing costs, improving operational reliability and utilisation, conserving cash and completing its planned capital raising.
Chairman Kiprono Kittony said the airline remains focused on strengthening its financial and operational foundations while positioning itself for long-term growth.
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