This archive report was first published on 5 July 2020.
Published on July 5, 2020, Kenya Airways is facing a severe financial crisis due to the Covid-19 pandemic, which has led to a significant decline in air travel demand.
The airline's CEO, Allan Kilavuka, has announced a rightsizing exercise to reduce the company's network, assets, and staff in response to the dwindling revenues.
According to Kilavuka, the airline will ground a large part of its fleet and operate a reduced network when services resume, as it anticipates a prolonged recovery period for the industry.
Kenya Airways has already lost an estimated Sh10 billion due to the pandemic, with projected losses of up to Sh50 billion by the end of the year.
The airline joins other global carriers, such as Qatar Airways and Fly Emirates, that have trimmed their workforce in recent months.
