NAIROBI, Aug 26 – Kenya Airways is preparing to disclose details of potential new investors within weeks as the national carrier seeks fresh capital to address mounting debt pressures, restore grounded aircraft and finance its turnaround strategy.
Chairman Kiprono Kittony said the airline had received interest from both domestic and international investors who could provide capital and other resources. “We have received interests from local and international investors who will inject both capital and other resources into KQ,” Kittony told reporters on Tuesday.
The potential investment comes as Kenya Airways faces a combination of higher operating costs, aircraft maintenance delays and shortages of spare parts that have restricted available capacity despite strong passenger demand.
The carrier reported a pre-tax loss of 15.92 billion shillings ($123 million) for the first half of 2026, compared with a loss of 12.17 billion shillings during the same period in 2025.
Fuel costs have emerged as one of the biggest pressures on the airline. Kenya Airways said last week that its fuel bill increased 72% during the first half of the year as the Middle East conflict disrupted energy markets. Fuel now accounts for as much as half of the airline’s total costs, according to the carrier.
The conflict has also affected aircraft availability by delaying the delivery of spare parts and maintenance services, further limiting Kenya Airways’ capacity.
Kittony told local broadcaster Citizen TV that prospective investors include parties from the United States, China, South Africa and Singapore. Because Kenya Airways is listed on the Nairobi Securities Exchange, he said the airline would follow a transparent process as it evaluates potential investors.
“We are confident that we shall achieve both a capital-raise partner and a strategic partner from the aviation industry,” Kittony said.
The airline is also considering changes to its balance sheet as part of the restructuring programme. Kittony said this could include converting principal debt owed to the Kenyan government and a consortium of local banks into equity.
The Kenyan government remains Kenya Airways’ largest shareholder, giving the state a central role in any restructuring that could alter the airline’s ownership structure.
Kittony also stressed the importance of maintaining sufficient government ownership to preserve the carrier’s national status. “It is also a strategic imperative that Kenya does not lose significant equity control of the carrier in order for us not to lose the national carrier status,” he said.
The search for new capital therefore forms part of a broader effort to stabilise Kenya Airways by addressing its balance sheet, restoring aircraft capacity and securing a more sustainable operating structure.
