Kenya Airways Acting CEO George Kamal Resigns

Leadership Transition at the National Carrier

Kenya Airways (KQ) has announced the resignation of its acting Group Managing Director and Chief Executive Officer, George Kamal, citing personal reasons. Kamal, who assumed the role in December 2025 following the departure of Allan Kilavuka, will remain with the airline for a 30-day transition period, with his formal exit scheduled for September 30, 2026. The board has appointed Habil Waswani, the airline’s company secretary and director of legal services and regulatory compliance, to serve as acting CEO effective September 15, 2026.

This leadership change occurs as the carrier navigates a period of significant financial and operational strain. During his tenure, Kamal oversaw a strategy focused on operational reliability and fleet optimization. The Kenya Airways board, led by Chairman Kiprono Kittony, has initiated a competitive recruitment process to identify a substantive CEO, an appointment expected to conclude in the near term as the airline pursues a long-term turnaround strategy.

Financial Performance and Operational Challenges

The executive transition follows the release of the airline's H1 2026 financial results, which reported a net loss of KSh 16.08 billion. This figure represents a 32% increase in losses compared to the KSh 12.15 billion reported during the same period in 2025. The widening deficit is largely attributed to external macroeconomic pressures, most notably the volatility of jet fuel prices, which spiked to as high as $213 per barrel due to geopolitical tensions in the Middle East. Fuel expenses now account for roughly 52% of the airline's direct operating costs.

Operational capacity has also been constrained by global supply chain disruptions. Extended engine turnaround times, which have lengthened to between 90 and 120 days, have forced Kenya Airways to ground portions of its fleet. Consequently, the airline operated with 9% less capacity in the first half of 2026 compared to the previous year. Despite these constraints, Kamal noted during the earnings release that the airline achieved a 9% revenue growth to KSh 81 billion, driven by resilient cabin factors and strong average coupon values.

Stakeholder and Regulatory Context

As a publicly listed entity on the Nairobi Securities Exchange, Kenya Airways is required by the Capital Markets Authority (CMA) of Kenya to transparently disclose material leadership changes. The search for a new CEO is occurring in parallel with the board’s efforts to identify a suitable strategic equity investor. This recapitalization remains a high-priority objective for shareholders, including the Kenyan government, as the airline seeks to address its negative equity position.

While management emphasizes external factors as the primary drivers of the current financial trajectory, the carrier faces ongoing scrutiny regarding its long-term viability. Historical precedents in African aviation, such as the multi-year business rescue and restructuring of South African Airways between 2019 and 2021, highlight the systemic challenges faced by state-backed carriers. These institutions often struggle with high operating costs and executive instability, which can necessitate structural overhauls to ensure operational continuity.

The Strategic Outlook for Leadership

The appointment of Habil Waswani, a recipient of the Legal 500GC Powerlist East Africa award, signals a focus on corporate governance and regulatory compliance during this interim phase. Waswani brings over 24 years of multisectoral experience to the role, including five years of tenure within the airline. The board’s immediate objective is to maintain stability while the recruitment process for a permanent CEO continues.

For passengers, the current focus remains on network reliability despite the capacity reductions. The airline’s ability to successfully onboard a strategic equity partner by the end of 2026 will be a critical milestone in determining the success of the current turnaround strategy. The market, regulators, and taxpayers alike are observing whether this leadership transition can provide the necessary stability to navigate the current supply chain and fuel cost headwinds.