After a 4.5-year hiatus, Kenya Airways (KQ, Nairobi Jomo Kenyatta) has resumed trading on the Nairobi Securities Exchange (NSE) after its suspension was lifted effective January 5, 2025.
The NSE said the relisting resulted from the company’s recent financial performance - a record after-tax profit of KES513 million Kenyan shillings (USD4 million) for the six months ending June 2024 - and the withdrawal of the National Aviation Management Bill of 2020, by which the former government aimed to renationalise the flag carrier, a plan that has since been abandoned. Kenya's Capital Markets Authority had approved the lifting of the suspension.
Trading in Kenya Airways shares was first halted in July 2020 and extended several times.
Kenya Airways aims to raise up to USD1.5 billion in fresh capital through a strategic investor to stabilise its finances, Group CEO Allan Kilavuka told ch-aviation. This will be the second phase of the airline's Project Kifaru turnaround plan. The carrier recently swapped debt for equity to improve its balance sheet and make it more attractive to investors. While informal discussions have taken place with "quite a number" of potential investors, Kilavuka said the process had not yet reached the formal stage.
