The acquisition is premised on the proceeds from revenue growth and will enhance KQ’s presence in the global space.
Kenya Airways (KQ), the country’s national carrier has revealed plans to increase its fleet capacity in the next five years in a move aimed at improving service delivery while maintaining dominance in the airspace.
KQ CEO and Group Managing Director Mr Allan Kilavuka announced that the airline, christened the Pride of Africa, will increase its fleet capacity from 42 to 55 aircrafts so as to enable it compete with other airlines.
The acquisition is largely premised on the proceeds from revenue growth with Mr Kilavuka saying it will enhance KQ’s presence in the global space.
“We plan to increase the number of our aircrafts to 55 fleets in the next five years to enable us compete effectively with the others in the market,” said Mr Kilavuka.
In April 2024, the national carrier received its second freighter, a Boeing 737-800 Freighter, pushing up the total cargo fleet to four.
This acquisition offers customers and partners more cargo capacity on its global network, especially the Middle East, Asia, and Africa routes.
The cargo freighters are also seen as a way to capture opportunities emerging from the African Continental Free Trade Area (AfCFTA) to catalyze trade within the continent and out of Africa.
“We have made a commitment to gradually increase our cargo business and support our customers in their long-term needs and deliver possibilities in the air,” said Mr Kilavuka.
The KQ boss noted that the arrival of the new B738 Freighter, the second one this year, and the fourth in “our cargo fleet”, is a significant milestone in KQ Cargo’s fleet expansion plans.
The KQ boss also hinted at plans to grow destinations from the current 48 to over 60 in the next 5 years.
This comes after KQ recently, after years of recording huge losses, bounced back to profitability after posting a net profit of Sh513 million in the first half of 2024.
Mr Kilavuka said that the positive performance is a sign of great things to come.
This even as he noted that “our financial results are a clear indication that our strategic initiatives are delivering the desired outcomes.”
“We have focused on strengthening our core operations, enhancing our customer service, and exploring new avenues for growth. This performance positions us in good stead to navigate the challenges of the aviation industry and prepare for future growth,” said Mr Kilavuka.
As the Pride of Africa continues to implement its strategic priorities, Kilavuka remained optimistic that the airlines’ commitment and dedication to driving sustainable growth, creating value for stakeholders and delivering world-class service to its customers is already yielding desired results.
“Our commitment to operational excellence, customer satisfaction, and innovation remains strong as we continue to build a stronger and more resilient airline,” said Mr Kilavuka.
Kenya Airways, a member of the Sky Team Alliance, is a leading African airline flying to 42 destinations worldwide, 35 of which are in Africa and carries over four million passengers annually.
In 2020 KQ was named Africa’s Leading Airline by the World Travel Awards.
“We continue to focus on profitable expansion of our network through a combination of direct access and alliances with other carriers. Sustainable improvement in yield will be pursued through a new revenue management system and better discipline,” said Mr Kilavuka.
The KQ CEO also noted that the management of the national carrier will place emphasis on greater productivity, cost restraints and reduction in wastage.