Kenya Airways on Friday announced an expansion of its codeshare agreement with South African Airways to open up more passenger destinations.
KQ says the deal gives it room for exponential growth, faster than it could on its own.
“The ultimate goal of the SAA partnership is co-founding a formidable airline called the Pan-African Airline Group. That is several years down the road,” Allan Kilavuka, CEO of Kenya Airways, said.
The airline, which held it’s 46th Annual General Meeting (AGM) virtually on Friday, sees itself back to profitability by 2024.
According to Kenya Airways Board Chairman Michael Joseph, the airline’s business outlook remained optimistic as the financial performance improved despite prevailing challenges.
“2021 saw KQ get on a path to recovery, as evidenced by the improved financial performance. We are emerging as a better balanced and more resilient business with a sustainable future focused on the long-term business opportunities presented by the global aviation industry. “
2021 saw the group’s total revenue increase by 33% to Kshs 70,221 million despite the resurgence of various COVID-19 variants and travel bans in different countries.
The group uplifted a total of 2.2 million passengers during the year, a 25% increase compared to the prior year, while the cargo business uplifted 63,726 tonnes, recording an improvement of 29% over 2020.
In addition, the group reduced costs by 3.5% and reduced lease rentals for the aircraft by Kshs. 10 billion.
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