The Nairobi Securities Exchange has announced the lifting of the suspension on trading shares of Kenya Airways (KQNA.NR), as stated on Monday.
According to the exchange, “The suspension on the trading of Kenya Airways PLC shares was lifted due to the company’s recent performance, which included a profit after tax and the retraction of the National Aviation Management Bill 2020.”
The shares of Kenya Airways were suspended in 2020 following the government’s proposal to renationalize the airline, a plan that ultimately did not materialize.
As one of the three largest carriers in Africa, Kenya Airways faced insolvency in 2018 after an aggressive expansion strategy resulted in substantial debt.
On its final trading day, March 2, 2020, the stock was valued at 3.83 shillings per share.
In 2023, the airline reported an operating profit of 10.53 billion shillings ($80.38 million), marking its first profit since 2017.
