The Kenya Airways share price on the Nairobi Securities Exchange (NSE) has been retreating from the gains that were recorded for nearly 14 consecutive days. After inching close to Sh. 10 per share, the KQ shares are now trading at lows of around Sh. 5 per share.
Despite the fall in price, the current KQ share price is still higher than the Sh. 3.45 per share that the counter resumed trading with.
An analysis on the counter by Bizna Kenya has shown that the stock rose to a high of Sh. 9.18 per share before starting the retreat. This means that investors who cashed out at this price nearly booked triple gains.
AT the end of the trading day on Thursday, January 23, 2025, the KQ share stood steady at Sh. 5.60 per unit. This was the day’s high and low. However, this price was a decrease of 9.97 per cent from the previous day’s closing price of Sh. 6.22 per share.
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A spot check on the counter during the intra-day trading session on Friday had the stock trading at Sh. 5.50 per share, which was 1.79 per cent lower than Thursday’s closing price.
With the national carrier’s full year results expected in March, investors will be keen to see the impact the results will have on the KQ share price.
If the results follow the half year trend, the price might inch upwards. In August 2024, KQ marked the first time since 2013 that it had recorded a profit after tax. For the first half of the financial year ending June 30, 2024, the airline achieved a profit after tax of Sh. 513 million, from the Sh. 21.7 billion loss reported in the similar previous period.
In that period, Kenya Airways experienced a 10 per cent increase in passenger numbers, totaling 2.54 million. The airline’s total revenue grew by 22 per cent to Sh. 91 billion, driven by higher passenger numbers.
The airline attributed this turn to its strategic turnaround plan, Project Kifaru. “Our financial results are a clear indication that our strategic initiatives are delivering the desired outcomes. We have focused on strengthening our core operations, enhancing our customer service, and exploring new avenues for growth. This performance positions us in good stead to navigate the challenges of the aviation industry and prepare for future growth,” said KQ chief executive officer Allan Kilavuka.
