Kenya Airways has earned a spot among Africa’s fastest-growing companies in a new ranking released by the Financial Times and research firm Statista, despite recording a major financial loss in 2025.
The national carrier was ranked position 67 in the Financial Times’ “Africa’s Fastest-Growing Companies 2026” report, which evaluates businesses based on compound annual revenue growth between 2021 and 2024.
According to the report, Kenya Airways achieved a compound annual growth rate of 38.98 percent during the three-year period, with revenues rising from KSh80.1 billion in 2021 to KSh188.3 billion in 2024.
Strong Revenue Growth Despite Challenges
The airline also expanded its workforce significantly as the aviation industry recovered from the effects of the Covid-19 pandemic.
Employee numbers increased from 3,544 workers in 2021 to 4,705 in 2024, reflecting the rebound in travel demand across regional and international routes.
The recognition comes only weeks after the airline announced a KSh17.2 billion net loss for the financial year ending December 2025, reversing the KSh5.4 billion profit recorded in 2024.
Kenya Airways attributed the losses mainly to reduced operating capacity after three Boeing 787-8 Dreamliner aircraft were grounded because of global supply chain constraints.
Aircraft Grounding Hit Operations
The airline’s Chief Financial Officer Mary Mwenga said the grounding of the aircraft greatly affected operations and reduced available capacity.
According to the airline, only about 80 percent of operational capacity was utilised during 2025 due to the aircraft shortages.
Acting Group Managing Director and CEO George Kamal noted that delays in acquiring additional aircraft have also complicated recovery efforts.
He explained that even with early bookings and investor support, newly ordered aircraft may not arrive until between 2030 and 2033 due to global supply chain delays affecting manufacturers.
Kenya Among Top Performing Countries
The Financial Times ranking highlighted Kenya as one of the best-performing countries on the continent, with 17 Kenyan companies appearing on the list.
Only South Africa ranked higher with 51 companies, while Nigeria followed closely with 16 firms.
Other Kenyan companies featured in the rankings included:
- M-Kopa
- Naivas
- Quickmart
- KCB Group
- Co-operative Bank of Kenya
- Kenya Power
The report noted that while fintech and technology firms continue dominating the rankings, airlines, retailers, manufacturers, and utility firms also showed strong growth.
Airline Banking on Recovery Strategy
Kenya Airways management says the company is currently focused on restructuring operations, cutting unnecessary costs, and raising capital to stabilize the business.
Businessman Kiprono Kittony was recently appointed chairman of the airline as part of efforts to strengthen governance and attract fresh investment.
The airline expects some of the grounded Dreamliner aircraft to return to service by mid-year, with additional aircraft expected later in 2026.
Officials say the long-term goal is to build a stronger and more resilient airline capable of sustaining profitability while expanding regional and international operations.
