Kenya Airways reported a net loss of KES 12.2 billion in the first half of 2025, a reversal from a net profit of KES 513 million in the same period of 2024. The airline's total income declined by 18.6% to KES 74.5 billion, while operating costs decreased by 10.5% to KES 80.7 billion. This resulted in an operating loss of KES 6.2 billion compared to an operating profit of KES 1.3 billion in H1 2024. The financial downturn was primarily driven by delays in aircraft deliveries and global shortages of spare parts, which disrupted fleet operations and led to the grounding of three aircraft. Kenya Airways plans to raise at least $500 million (approximately KES 64.5 billion) by the first quarter of 2026 to expand and upgrade its fleet, with shareholder approval expected within the same timeframe. The airline's share price declined by 21% following the announcement of the half-year results. Additionally, Kenya's equities market rebounded strongly in H1 2025, with the market capitalization increasing to KES 2.4 trillion from KES 1.9 trillion at the end of 2024, and the NSE All Share Index rising by 24.3%.