The shares of Kenya Airways, the national carrier of the East African Republic, have resumed trading on the Nairobi Securities Exchange (NSE) after nearly a five-year suspension. NSE lifted the suspension following a significant improvement in the airline's financial situation and the government's decision to abandon plans for re-nationalizing the carrier.
After years of financial struggles, the airline returned to profitability in 2023, reporting a profit of $80.4 million — its first positive result since 2017. A key driver of this recovery was a sharp reduction in operating costs, which included the government's commitment to take over a $614 million debt as part of a broader economic rescue initiative aimed at stabilization.
The airline's financial turnaround has bolstered investor confidence, ultimately leading to the NSE's decision to reopen trading. Analysts predict that Kenya Airways' return to the market will invigorate the industry and create new opportunities for attracting investment into the country.
