Kenya Airways value rises by Sh10bn since flights to America were announced

By professo

The stock of Kenya’s national carrier rose by 11% last week, following the announcement that tickets were on sale for the company’s first flight to the US.

The rise in stock led to Kenya Airways’ (KQ) market cap increasing by an additional Sh9.7bn (US$94.2mn), reaching Sh98.3bn ($915.6mn).

“Kenya Airways joined the day’s top gainers on the news of the expected direct flights to the US,” announced Kingdom Securities.

“The airline’s management anticipates its daily direct flights to the United States that it launches for the first time in October to boost annual revenue by 10 per cent from 2019.”


The company’s gains were predominantly recorded on 11 and 12 January, which suggests the rise was subsequent to the firm’s announcement.

This suggests the direct flight could have a very positive impact on the struggling airline.

The carrier operates a hub at the Jomo Kenyatta international Airport in Nairobi, located between the Middle East and other African countries. It hopes the hub will feed the US route.


Featured Articles

Top 10 largest revenue generating family businesses in MENAT

From the UAE to Turkey, these family firms are the largest by revenue in MENAT and cover everything from energy to entertainment

Top 10 metaverse projects in the UAE, including world firsts

As Accenture predicts the metaverse will fuel a US$1 trilion commerce opportunity by 2025, we round up 10 pioneering metaverse projects in the UAE

PwC’s survey shows Middle East CEOs remain upbeat on growth

CEOs in the Middle East are far more optimistic about regional growth than those in North America and Europe, according to PwC’s annual survey

Opinion: “Why we must tackle the digital skills crisis"

Leadership & Strategy

5 Mins With: Kathryn Kaminsky Vice Chair Trust Solutions PwC

Leadership & Strategy

Survey: The Future of Cloud Security in the Middle East