- Trading of Kenya Airways shares resumed after a three-year suspension.
- The suspension was lifted following the airline’s return to profitability in 2023.
- Kenya Airways recorded a profit of Ksh 10.53 billion, its first since 2017.
- The suspension was initially imposed in 2020 amid plans to re-nationalize the airline, which were later dropped.
The Nairobi Securities Exchange (NSE) has officially lifted the suspension on trading Kenya Airways shares. Trading was halted in 2020 when the government announced plans to re-nationalize the airline, though the plan never materialized.
Kenya Airways, one of Africa’s top three carriers, faced financial struggles, including insolvency in 2018, after an ambitious expansion left the airline with substantial debt.
The decision to lift the suspension follows a significant turnaround in the airline’s performance. In 2023, Kenya Airways posted an operating profit of Ksh 10.53 billion ($80.38 million), marking its first profit since 2017.
On its last trading day, March 2, 2020, Kenya Airways’ stock closed at 3.83 shillings per share.
NSE Statement
In its statement, the NSE cited the airline’s improved financial health and the withdrawal of the National Aviation Management Bill 2020 as key reasons for resuming trading.
The resumption of share trading is expected to reinvigorate investor confidence and reflect the airline’s ongoing recovery efforts.
