The shares of Kenya Airways, the flag carrier of the East African country, have resumed trading on the Nairobi Securities Exchange (NSE) after a nearly five-year suspension. The NSE lifted the suspension following the airline’s significant financial improvement and the government’s decision to withdraw plans to renationalize the carrier. The airline’s financial improvement includes a return to profitability after it posted a profit of $80.4 million in 2023, its first since 2017. According to analysts, the turnaround was largely driven by a steep decline in expenses after the government assumed a $614 million loan as part of a broader rescue initiative. This financial recovery renewed investor confidence, ultimately leading to the NSE’s decision to lift its suspension.
Source: SEMAFOR
