Kenya Airways has unveiled plans to more than double its aircraft fleet to over 50 planes by 2035 as the national carrier pushes an aggressive expansion strategy.
Acting KQ CEO George Kamal announced that KQ, which turns 50 next year, plans to raise its fleet to over 50 planes over the next four years and nearly triple its current fleet by 2035.
Speaking at the Aviation Media Lab on Friday, May 29, in Mombasa, Kamal said the expansion plan is part of the national carrier’s growth strategy.
“So we are looking at over 50 aircraft by 2035. But for this we require an investor to be in place,” Kamal said. Adding, “In the first stage we are looking at about 59 to 60 aircraft, and that’s as a group, not just Kenya Airways.”
According to the International Air Transport Association (IATA), passenger numbers in Africa are expected to nearly double by 2035, requiring corresponding investments in fleet size and route networks.
Kamal said KQ is eyeing a mix of long-range and medium- and short-haul planes, but the expansion is contingent on the airline securing an agreement with a pool of strategic investors.
Under the strategy, the airline will mix buying planes, leasing, and leasing-to-buy. At the moment, Kenya Airways operates 34 aircraft, with 4 dedicated for cargo.
Speaking during the same forum on Thursday, KQ Board Chairman Kiprono Kittony revealed its search for investors is still ongoing.
In March, Kenya’s national carrier revealed it is seeking between $1.2 and $2 billion to stabilise the airline’s finances and recapitalise its balance sheet.
Treasury Cabinet Secretary John Mbadi has indicated that the search involves floating an international expression of interest (EOI).
To make the airline more attractive, the government is considering converting its own loans to the airline, specifically the Ksh63.1 billion under the Tsavo facility, into equity once a partner is onboarded.
This is intended to ‘clean up’ the balance sheet before the new investor enters.
With a fleet of over 50 aircraft, Kenya Airways would significantly strengthen its position among Africa’s leading carriers, although it would still trail one of its biggest competitors, which aims to expand its fleet to 271 aircraft by 2035.
Kenyans.co.ke