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Kenya Airways Needs Ksh.45 Billion to Turn Profitable

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Nyakundi Report

Newsroom 1 min read

This archive report was first published on 14 November 2019.

Kenya Airways Chairman Michael Joseph has stated that the airline requires Ksh. 45 billion to turn around to profitability. He expressed frustration with the government's reluctance to act on the company's fortunes.

Speaking in New York on November 14, 2019, Joseph expressed his disappointment at the State's inaction, saying, 'It's frustrating how the government is reluctant to act on anything …and as every one knows I am very impatient and I need this turnaround to have been done by yesterday.'

Outgoing CEO Sebastian Mikosz further accused the government of allowing political interference and lack of knowledge, which he claimed led to the failure of the PIIP proposal. He stated, 'The bull needs to stop. This is a political decision that has seen the airline lose out to other competitors in the region …in the long term JKIA will be around but KQ ………,'

Despite these challenges, Kenya Airways has marked its one-year anniversary of direct flights to the US, with over 105,000 passengers traveling using the airline during the period.

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