Kenya Airways has posted a pre-tax loss of 17.9bn Kenyan shilling loss ($138 million) in full-year 2025, falling sharply from its pre-tax profit of 5.5bn Kenyan shillings ($42.5 million).
The airline said it was “significantly impacted by global aviation supply chain disruptions”.
“While our financial performance reflects a challenging year, it is important to recognise that this was driven primarily by global supply chain disruptions and not a lack of demand,” said Kenya Airways chairman Kiprono Kittony.
The airline will focus on short-term stabilisation while building long-term resilience and sustainability.
Kenya Airways said it was impacted by the temporary grounding of three 787-8 Dreamliner aircraft due to supply chain constraints and limited engine availability.
Capacity declined 18% as a result during the year, resulting in a 13% drop in passenger numbers. Revenue fell 14% to 161.5bn shillings ($1.2bn).
“Within Africa, structural challenges, including infrastructure limitations and elevated operating costs, continue to shape the operating environment,” said Kenya Airways group managing director and CEO George Kamal. “Despite this, demand for air travel across the continent remains strong, supporting long-term growth prospects. Cargo performance softened amid slower global trade and shifting tariff regimes, while regulatory costs continued to exert pressure across the sector.”
Total operating costs were 167bn shillings ($1.3bn) for 2025, down from 171.8bn shillings ($1.3bn). The decline was driven by its significant drop in capacity for the year.
The company noted that the Kenyan shilling “remained relatively stable” during 2025, which contrasts the “significant foreign exchange gains” in the previous year.
The airline said it is focussed on restoring capacity for the year ahead, which will include restoring its grounded aircraft to service. Additionally, the company is looking at efficiency, cost management, and cash conservation measures.
Kenya Airways said it is advancing capital raise to strengthen its liquidity and support its fleet expansion, and diversify its revenue streams.