Kenya Airways in 2026: 9 Major Developments Shaping the National Carrier

Kenya Airways is going through another important chapter in its long and complicated turnaround story.

The national carrier has managed to increase revenue and attract strong passenger demand, but rising fuel prices, aircraft availability problems and higher operating costs have continued to put pressure on its finances. Then, in September 2026, the airline announced another major change: Acting Group Managing Director and CEO Captain George Kamal had resigned.

His departure comes at a particularly sensitive time for the airline. Kenya Airways is trying to restore aircraft capacity, improve financial performance, raise additional capital and position itself for longer-term growth.

Here are 9 of the biggest developments shaping Kenya Airways in 2026.

1. George Kamal has resigned as Kenya Airways' acting CEO

One of the biggest recent developments is the resignation of Captain George Kamal.

Kenya Airways announced that Kamal had stepped down as Acting Group Managing Director and CEO for personal reasons. He had taken over the position on December 16, 2025, following the departure of Allan Kilavuka.

Kamal will remain with the airline during a 30-day transition period, with his formal departure scheduled for September 30, 2026.

His departure is significant because he had previously served as Kenya Airways' Chief Operating Officer before becoming acting CEO.

2. Habil Waswani is taking over as acting CEO

Kenya Airways has appointed Habil Waswani to succeed Kamal in an acting capacity.

Waswani is the airline's Company Secretary and Director of Legal Services and Regulatory Compliance. His appointment as Acting Group Managing Director and CEO takes effect on September 15, 2026.

Unlike Kamal, whose background is primarily in aviation operations, Waswani comes to the position from corporate law, governance and regulatory compliance.

He has more than 24 years of corporate and commercial legal experience and has worked at Kenya Airways for more than five years.

3. Kenya Airways increased its revenue to KSh81 billion

Despite its problems, Kenya Airways' latest financial results contain one particularly encouraging number.

The airline reported revenue of approximately KSh81 billion for the six months ended June 30, 2026, representing a 9% increase from the same period in 2025.

The airline said the revenue growth was achieved despite operating with 9% less capacity.

4. The higher revenue did not translate into profit

This is where the Kenya Airways story becomes more complicated.

Although revenue increased, the airline recorded a KSh16.1 billion loss after tax in the first half of 2026, compared with a KSh12.2 billion loss during the same period in 2025.

Reuters separately reported Kenya Airways' first-half pre-tax loss at KSh15.92 billion, compared with KSh12.17 billion in the previous year's first half.

5. Fuel costs have become a major problem

Fuel has been one of the biggest pressures on Kenya Airways this year.

According to the airline's official results, fuel costs increased by 32% during the first half of 2026. Fuel accounted for approximately 32% of total operating expenses and about 52% of direct operating costs.

Kenya Airways also said fuel costs had surged by 72% amid the Middle East conflict, adding another layer of pressure to the airline's finances.

For an airline, fuel costs are particularly difficult to absorb because they directly affect the economics of almost every flight.

Kenya Airways faces the difficult balancing act of maintaining competitive fares while dealing with substantially higher operating costs.

6. Aircraft availability is limiting Kenya Airways' growth

Another major issue is the availability of aircraft.

Kenya Airways reported that global supply-chain problems, shortages of spare parts and delays in obtaining components had affected aircraft availability and operational reliability.

There is demand for seats, but the carrier cannot always provide as much capacity as it would like.

The airline reported operating with 9% less capacity in the first half of 2026. Its cabin factor nevertheless improved by about four percentage points, reaching 76.3%.

7. More aircraft are returning to service

There is also some positive news on the fleet side.

Kenya Airways said one Boeing 787-8 returned to service in July 2026, while a Boeing 777-300ER was also redelivered and returned to operations.

Getting aircraft back into service is important because additional capacity could allow Kenya Airways to take advantage of the passenger demand it is already seeing.

8. Cargo is becoming an increasingly important part of the business

Passenger flights are not the only source of revenue for Kenya Airways.

The airline reported that cargo revenue increased by 18% year-on-year to approximately KSh8.77 billion during the first half of 2026.

That makes cargo an important part of the carrier's strategy as it searches for additional revenue opportunities.

Kenya's location also gives Nairobi an advantage as a regional logistics and aviation hub connecting African markets with international destinations.

9. Kenya Airways is looking for strategic investors

Kenya Airways has been pursuing a strategic investor, and recent reporting indicates that potential investors from several regions have shown interest. Reuters reported that the airline expected to reveal potential new investors as it continued efforts to strengthen its balance sheet.

The government remains the airline's largest shareholder, while discussions have also involved the possibility of restructuring some government and local-bank debt into equity.