Kenya Airways has clarified reports concerning its shareholding structure, following claims that the Employee Share Ownership Scheme (ESOP) was being wound up and that the National Treasury would hold more than 50% of the airline.
In a statement dated April 8, the airline confirmed that the National Treasury is the majority shareholder with a 48.90% stake, followed by KQ Lenders Company 2017 Limited with 36.30%.
KLM currently holds 7.76%, while the Employee Share Ownership Scheme and Individuals & Institutional Investors hold 2.44% and 4.60%, respectively.
“ Contrary to information published in the Business Daily newspaper on 05 April 2026, and other digital media channels regarding the shareholding structure of Kenya Airways Plc, the purported winding up of the Employee Share Ownership Scheme (ESOP) and the National Treasury taking its shareholding beyond the 50% threshold, we wish to clarify that this is not factual,” read part of the notice.
The airline noted that any changes to major shareholders require approval at a General Meeting and that the ESOP shares are held in trust for staff and are not publicly traded.
Kenya Airways Clarifies on Govt Majority Shareholding Structure
Kenya Airways warned against unverified reporting, noting that misinformation undermines public confidence and the airline’s strategic positioning.
Additionally, it encouraged stakeholders to rely on official communications for accurate information.
Also Read: Kenya Airways Confirms Operational Stability After Reporting 17 Billion Loss
This follows claims that the National Treasury has taken control of a 50.1 percent stake in Kenya Airways, enabling it to direct the national carrier’s strategy.
“KQ Lenders are trading in the open market in the Nairobi Securities Exchange within pre-sanctioned (pre-approved) thresholds,” the airline said.
Kenya Airways Records Net Loss in March
Kenya Airways posted a net loss after tax of Ksh17.1 billion in FY2025, compared to a net profit of Ksh5.4 billion in 2024.
Also Read: Govt Secures Kenya Airways Majority Stake in Ownership Shake-Up
According to the report, the total income reduced from Ksh 188.5 billion to Ksh 161.5 billion due to reduced cargo volumes and flight activities.
In addition, the airline sales declined by KSh27 billion to KSh161.4 billion, resulting in an operating loss of KSh5.6 billion.
Operating costs fell by KSh4.79 billion to KSh167 billion, giving the airline a negative asset position of KSh132 billion, down from KSh118.2 billion.
Despite these results, reports of the government seeking an investor to help turn around the fortunes of the airline have breathed some optimism among shareholders.
Earlier in April, reports broke that Kiharu Member of Parliament and his Thika town counterpart had acquired shares in the national carrier.
The reports triggered a rally of the KQ shares on the Nairobi Securities Exchange (NSE), raising questions about the future of the airline.
The developments also come amid a transition in the airline’s leadership, with the latest move being the appointment of businessman Kiprono Kittony as the Chairman of Kenya Airways Board of Directors.
