Kenya Airways' Passenger Revenue Increased to KSh 156 billion in 2024, Annual Report Shows

• Kenya Airways is one of the leading airlines in Africa, operating in more than 40 destinations across different continents
• The airline has been carrying both passengers and cargo across its destinations, which include China, Dubai, and the UK, among other routes
• In 2024, its earnings from passengers went up by KSh 6 billion to KSh 156 billion, a move that boosted its earnings during the period under review

Bonface Kanyamwaya, a journalist at TUKO.co.ke, has over 10 years of experience in finance, economics, business, markets, and aviation, offering insights into Kenyan and global trends.

Kenya Airways' passenger revenue went up by KSh 6 billion in 2024, the airline's annual report shows.

KQ, as the airline is known by its international code, said in its 2024 Annual Report, a copy of which was seen by TUKO.co.ke, that passenger earnings went up from KSh 150.77 billion in 2023 to KSh 156.05 billion in 2024.

Kenya Airways chairman Michael Joseph, who is set to leave the airline after completing his tenure, attributed the rise in passenger earnings to an increase in the number of people who were carried last year, which has resulted in an impressive performance posted last year.

"These results not only set records for the highest number of passengers and turnover in Kenya Airways' history but also signify our strong operational viability and resilience. The impressive financial performance underscores our ongoing commitment to customer focus, operational excellence, financial discipline, cultural transformation, innovation, and sustainability," said Joseph in a recent press statement.

During the period under review, the number of passengers carried by the airline also went up by 4% to 15.2 million in 2024.

KQ also earned KSh 16.22 billion in freight and mail in the year ended December 2024, up from KSh 13.60 billion in the previous year.

Its revenue from handling services stood at KSh 2.5 billion, up from KSh 2.2 billion in 2023, bringing the total revenue from contracts with customers to KSh 174.8 billion in 2024, up from KSh 166.61 billion in 2023.

Kenya Airways' profit after tax hits KSh 5.4 billion

During the period under review, Kenya Airways posted a profit after tax of KSh 5.4 billion.

This represents a remarkable turnaround from a loss of KSh 22.6 billion reported the previous year, reflecting an improvement of KSh 28 billion and a 124% increase in net profit.

This positioning has significantly strengthened the company's financial health, positioning it for future growth and stability.

Kenya Airways adds 414 staff to payroll

In other news, Kenya Airways hired 414 workers in the year ended December 2024.

KQ said in its 2024 annual report that it employed 5,242 workers in the period ending December 2024, up from the 4,828 workers it had in the previous year.

The increase in staff in 2024 means this was the second year in a row that the airline was hiring more workers following workforce reductions in 2020.

Proofreading by Mercy Nyambura, copy editor at TUKO.co.ke.

Source: TUKO.co.ke