Kenya Airways Plans to Acquire More Freighter Planes in 2026 To Grow Revenue
- Kenya Airways is planning to acquire new freighter planes next year to meet growing cargo demand across the routes where it operates the business
- The number of cargo planes to be acquired by the airline in 2026 is still kept under wraps, even though it acquired one last year
- The airline operates a cargo business in markets such as Asia, Africa and the United Arab Emirates (UAE)
Bonface Kanyamwa, a journalist at TUKO.co.ke has more than 10 years of experience in reporting business, finance, economy, markets, and aviation. He provides insights into Kenya and Global trends.
Kenya Airways (KQ) is planning to acquire more freighter planes next year to accommodate growing cargo demand across its markets.
Source: Twitter
The planes, whose total number the airline has kept under wraps, will be deployed to ferry goods to its key markets such as the United Arab Emirates (UAE).
Kenya Airways received a Boeing 737-800 freighter in April 2024, increasing the number of its cargo aircraft in its fleet to four.
"The airline is eyeing the acquisition of larger freighter aircraft by 2026 to better meet the growing demand, which is currently rising at an annual rate of approximately 11% – nearly double the rate observed before the COVID-19 pandemic," said the airline's CEO Allan Kilavuka in a recent press statement which was seen by TUKO.co.ke.
The freighter planes by the airline will allow it to meet the existing cargo demand post-COVID-19 pandemic in markets like Africa, the Middle East, and Asia.
The cargo planes will help carry good in and out of Sharjah,UAE, Jeddah and Riyadh in Saudi Arabia.
KQ's cargo volume up
The airline has been relying on cargo business to boost its income, which grew to KSh 188.5 billion in the last financial year, a 5.6% increase from KSh 178.5 billion reported in 2023.
In the last financial year ended December 2024, KQ's cargo volume increased by 25% to hit 70,776 tonnes .
This was an increase from 56,576 tonnes in the year ended December 2023. The cargo volumes went up mainly due to the introduction of more freighter planes during the period under review.
As part of a wider plan to boost its cargo operations, the airline early this week appointed a new cargo director- Fitsum Abadi Gebrehawaria.
With over 25 years of industry experience, Gebrehawaria will be expected to play a pivotal role in accelerating growth across the airline’s cargo division.
The new KQ's cargo director has a distinguished career that includes senior leadership roles with organisations such as Salam Air and Ethiopian Airlines.
Source: Twitter
KQ net profit hit KSh 5.4 billion
Meanwhile, in the financial year ended December 2024, KQ posted a net profit of KSh 5.4 billion, a turnaround from a loss of KSh 22.7 billion recorded in 2023.
This was the first profit recorded by the airline in 11 years.
KQ, as the airline is known by its international code, attributed its stellar performance to a mix of factors, including prudent cost-saving strategies as well as favourable exchange gains and high passenger numbers.
Proofreading by Jackson Otukho, copy editor at TUKO.co.ke.
Source: TUKO.co.ke
