By Ukumbi Afrika 
Nairobi —Kenya Airways is expected to disclose details of potential new investors within weeks as the loss-making national carrier seeks fresh capital to ease its debt burden, restore grounded aircraft and finance its turnaround strategy.
Chairman Kiprono Kittony said the airline had received interest from both local and international investors willing to 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.
The potential investment comes as Kenya Airways faces rising fuel costs, maintenance delays and shortages of spare parts, limiting its capacity despite strong passenger demand.
The airline reported a pre-tax loss of 15.92 billion Kenyan shillings ($123 million) for the first half of 2026, widening from a loss of 12.17 billion shillings recorded during the same period in 2025.
Fuel Costs Surge
Kenya Airways said last week that fuel costs increased by 72% in the first half of 2026, largely due to the Middle East conflict. Fuel accounts for as much as half of the airline's total costs.
The conflict has also disrupted deliveries of spare parts and maintenance services, further affecting aircraft availability.
Kittony said Kenya Airways had received investment interest from parties in the United States, China, South Africa and Singapore.
Because the airline is listed on the Nairobi Securities Exchange, he said the investment process would be conducted transparently.
“We are confident that we shall achieve both a capital-raise partner and a strategic partner from the aviation industry, ” Kittony said.
Government Debt Conversion Considered
A key component of the restructuring plan could involve cleaning up Kenya Airways' balance sheet, including the possible conversion of principal debt owed to the Kenyan government and a consortium of local banks into equity.
The Kenyan government is currently the airline's largest shareholder.
Kittony also stressed the importance of maintaining significant Kenyan ownership of the carrier to preserve its national-carrier 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 proposed capital injection could provide Kenya Airways with much-needed funding to restore aircraft, address maintenance bottlenecks, reduce financial pressure and strengthen its competitiveness.
However, the airline's ability to attract strategic investment while preserving substantial government control will remain a key factor in its restructuring efforts.
Source: Reuters
Reporting: Edwin Okoth
Writing: Vincent Mumo Nzilani
Editing: Elaine Hardcastle