Kenya Airways Announces $400M Fleet Expansion and Modernisation Plan
Kenya Airways has unveiled an ambitious plan to invest up to $400 million (approximately KSh 51 billion) over the next five years aimed at expanding and modernising its aircraft fleet.
The announcement was made during the airline’s Annual General Meeting held in Nairobi, where CEO Allan Kilavuka outlined key strategic steps to boost operational efficiency and competitiveness.
Currently operating a fleet of 34 aircraft, Kenya Airways plans to grow this number to 53 by 2029. The investment will cover not only the acquisition of new planes but also the refurbishment of existing aircraft interiors, including the installation of in-flight Wi-Fi and other modern amenities designed to enhance passenger experience aboard the ‘Pride of Africa’.
“We have a fleet plan that talks to increasing the fleet from currently what we have, 34, to 53 in five years,” said Kilavuka. He added, “In addition to that, we aim to modernise the current fleet, particularly the interior, to install Wi-Fi and all these nice things to make the interior look a little bit more modern. And then also to improve our IT infrastructure.”
Kilavuka estimated the total cost of the fleet expansion and modernisation programme to be between $300 million and $400 million. However, he cautioned that the global aviation industry’s ongoing aircraft shortage poses a significant challenge to their timeline. The airline had targeted acquiring six Boeing 767 aircraft this year but has only received one due to prolonged production delays.
“The industry is experiencing a big shortage in aircraft. Huge, huge shortage in aircraft. I mean, the delays are not in months, not even in one year, in years. You have two or three years’ delay in production of new aircraft,” Kilavuka explained.
Kenya Airways Board Chairman Michael Joseph underscored the importance of government support in attracting a strategic investor to bolster the airline’s financial base.
“Finding a strategic investor for Kenya Airways is not easy. First of all, you look at our balance sheet and you look at the package that’s available. So we need the government to help us, to endorse us, to back us in finding a strategic investor,” he said.
This fleet investment initiative comes as Kenya Airways seeks to recover from years of financial turbulence and aims to regain its position as a leading airline on the African continent. Success will depend heavily on securing adequate funding, overcoming supply chain disruptions, and landing the much-needed strategic investment partnership.
