National carrier, Kenya Airways, has recorded a pretax loss of Sh12.17 billion in the first six months of 2025 as revenues and passenger numbers fell due to aircraft maintenance disruptions.
Announcing the results, KQ Chief Executive Officer Allan Kilavuka revealed the revenue fell to Sh74.5 billion, down from Sh91.5 billion over a similar period last year when it recorded a profit of Sh513 million before tax.
The profit recorded by the carrier last year was the first in over a decade.
Kilavuka said that one of three aircraft grounded for maintenance resumed service in July, and the airline aims to have its full fleet operational by next year.
KQ will be seeking to raise at least Sh64.5 billion in new capital as part of plans to expand its fleet and reinforce operations.
The national carrier CEO added that they will identify potential funding sources and seek shareholder approval for the capital injection by the first quarter of 2026.
The fundraising plan comes as the airline reported an operating loss of Sh6.2 billion in the first half of 2025, reversing a Sh1.3 billion operating profit posted during the same period last year.
The carrier had returned to the black in 2024, recording its first full-year profit in more than a decade, supported by foreign exchange gains after the Kenyan shilling strengthened against the U.S. dollar.
Despite that recovery, Kenya Airways continues to grapple with structural financial pressures.
The airline has struggled for years under heavy debt, nearly collapsing in 2018 after an ambitious expansion drive strained its balance sheet.
Recent state support has provided some relief. Earlier this year, the government stepped in to repay a Sh19 billion loan, helping ease liquidity pressures and keep the airline afloat.
Kilavuka said the planned capital raise is critical to its long-term turnaround strategy, allowing it to invest in more efficient aircraft and strengthen its competitiveness in both passenger and cargo operations.
