Kenya Airways Shares Back on the Market After Five Years – Africa.com
Shares in the East African country’s flag carrier Kenya Airways have resumed trading on the Nairobi Stock Exchange (NSE) after being suspended for nearly five years. The National Stock Exchange lifted the grounding order following a significant improvement in the airline’s financial position and the government’s decision to withdraw plans to renationalize the airline. The airline’s financials have improved, including returning to profitability after posting a profit of $80.4 million in 2023, its first profit since 2017. Analysts said the turnaround was largely due to a sharp drop in expenses after the government assumed $614 million in loans as part of the loan. Wider rescue efforts. This financial recovery restored investor confidence, ultimately leading to the NSE’s decision to lift the trading suspension.
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