Kenya Airways is nearing an agreement to acquire a Boeing 777 freighter and is holding to an ambitious target of 40% cargo market share, chief executive George Kamal said during the carrier's half-year briefing on 26 August 2026.
"We're looking for a 777 cargo [aircraft] to come," Kamal said. "We're in discussions now. We're almost there." He has not identified the source of the freighter or the specific model, but says it will be taken on long-term lease and will offer capacity of around 100 tonnes.
The move follows a rethink of an earlier arrangement. Kenya Airways had taken capacity on a 747-400 freighter, registered ER-BYK and operated by Moldovan carrier Terra Avia, but gave it up after fuel costs soared earlier this year. "That really became a burden because [we had] to fly cargo at the right cost," Kamal said, adding that the 747 is a "big bird" and that the fuel price hike prompted a rethink after a short period. "This aircraft is not the right one for us."
Before that, the airline had been running its freight operations with two 737-800s and two older 737-300s, giving overall cargo capacity of about 70 tonnes. A 100-tonne 777 would therefore be a step change rather than an incremental addition, and it aligns with a freighter strategy the carrier has been signalling for some time; ch-aviation and Aviation Week have both reported on its plan to add 767 freighter capacity ahead of a 777F.
The commercial case looks solid on the numbers Kenya Airways published. Cargo revenues rose 18% in the first six months of the year, to KShs8.8 billion ($68 million), even though hold capacity from the passenger fleet was reduced. Kamal describes freight activity as "a winning horse" and believes the airline can lift its market share from the current 11% toward the 40% target.
That growth ambition sits alongside a difficult overall result. The carrier posted a net loss of KShs16.1 billion ($124 million) for the half-year. Revenue rose 9% to KShs81 billion, the second-highest half-year figure in the airline's history, but an "exceptionally challenging" cost environment pushed expenditure up 14% to nearly KShs92 billion. Fuel costs alone were up 32%, and spares shortages and longer lead times added further margin pressure.
Capacity was down 9% over the period, though Kenya Airways says fleet availability is improving with the return to service of a Boeing 777-300ER and a 787-8, which it calls a "significant positive development." The 787 D-check was carried out at the airline's own facilities.
"Our focus now is firmly on recovery and building a stronger Kenya Airways," said chair Kiprono Kittony. "We will continue to manage costs rigorously, conserve cash, restore fleet capacity, reduce leverage and complete our capital raising." The planned capital increase is intended to give the company a more sustainable financial foundation.
Sources: FlightGlobal, ch-aviation. Featured image: AI-generated by AviationShop. By Daniel Okafor.
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