Kenya Airways has received approval to resume trading on the Nairobi Securities Exchange (NSE), more than four years after its shares were suspended.
The suspension, requested by the airline in July 2020, followed the government’s proposal to renationalize the struggling carrier amid the COVID-19 pandemic, which severely impacted global air travel.
However, the nationalization plan was abandoned, and Kenya Airways posted a profit for the first time in seven years in 2023.
“The suspension on the trading of Kenya Airways PLC shares was lifted following the company’s recent performance which saw the company record a profit after tax and the withdrawal of the National Aviation Management Bill 2020,” the bourse said on Monday.
The Nairobi Securities Exchange confirmed that the suspension was lifted, effective January 5, 2025, after receiving approval from Kenya’s Capital Markets Authority.
Kenya Airways, which has faced significant financial challenges for years, reported a net half-year profit of KES 513 million ($4 million) for the period ending June 30, 2024. In 2023, Kenya Airways recorded an operating profit of KES 10.53 billion ($80.38 million), its first operating profit since 2017.
On March 2, 2020, the airline’s stock closed at 3.83 shillings per share, marking the final trading day before the suspension.
Founded in 1977 after the dissolution of East African Airways, Kenya Airways, known as “The Pride of Africa,” now flies more than five million passengers annually to 45 destinations. The Kenyan government holds a 48.9 percent stake in the airline, while Air France-KLM owns 7.8 percent.
