Kenya Airways is seeking a capital injection of at least Ksh194 billion ($1.5 billion) as the carrier accelerates plans to modernize its fleet, expand route capacity and strengthen its position in Africa’s increasingly competitive aviation market.

Speaking during the airline’s 50th Annual General Meeting, Board Chairman Kiprono Kittony said the carrier will soon launch an international tender process to attract a strategic investor capable of supporting its long-term growth ambitions.

The airline plans to issue an Investment Memorandum and evaluate multiple financing options, including equity funding, airline partnerships and institutional investors from local and international markets.

Fleet expansion strategy takes shape

The fundraising effort comes as Kenya Airways advances an ambitious expansion roadmap aimed at increasing its fleet to 60 aircraft by 2030 and 100 aircraft by 2035.

Acting Managing Director and Chief Executive Officer Captain George Kamal said the airline has temporarily delayed portions of its acquisition program until 2027 due to geopolitical tensions and elevated fuel prices, which continue to pressure global airline profitability.

Despite the pause, Kenya Airways expects several grounded aircraft to return to service between July and August, boosting capacity during the high-demand travel season.

A 400-seat Boeing 777 is scheduled to rejoin the fleet in July and will initially serve the lucrative London route. The airline is also investing in onboard Wi-Fi connectivity and cabin refurbishment projects designed to improve customer experience and compete more effectively with leading international carriers.

Recovery efforts continue amid industry challenges

The capital raise comes as Kenya Airways works to recover from a difficult financial year marked by weaker passenger demand and reduced operational capacity.

Kenya Airways 2025 revenue declined to KSh161.47 billion ($1.24 billion), down from KSh188.5 billion ($1.45 billion) a year earlier. Passenger traffic fell 13%, while available seat capacity dropped 18%, reflecting operational constraints and market headwinds.

Several aircraft remain grounded, including three Embraer jets and two Boeing 787 Dreamliners awaiting engines. Another Dreamliner is currently undergoing a major maintenance check in Kenya, marking a milestone for the country’s aviation maintenance capabilities.

Positioning for Africa’s aviation future

Known as the “Pride of Africa,” Kenya Airways remains one of the continent’s most important carriers. Operating from Nairobi’s Jomo Kenyatta International Airport, the airline serves 42 destinations, including 37 across Africa.

As a member of the SkyTeam Alliance, the carrier connects travelers to more than 1,060 destinations worldwide, transporting over five million passengers and more than 70,000 tonnes of cargo annually.

With fresh capital, fleet modernization and enhanced passenger services, Kenya Airways is betting that the next decade will cement its role as a leading gateway between Africa and global markets.