Bonface Kanyamwaya, a journalist at TUKO.co.ke, possesses over 10 years of expertise in financial, economic, business, market, and aviation fields, offering insights into Kenya and global trends.

Kenya Airways (KQ) Chairman Michael Joseph, one of the country's most influential leaders, is set to leave the airline's board in June 2025 after completing his term.

According to Kenya Airways' 2024 annual report, a copy of which was seen by , Joseph, a Kenyan and British citizen, is scheduled to cease being the chairman of KQ's board on Friday, June 13.

The airline is set to host its 49th Annual General Meeting on the said date, and Joseph will step down from his role because he has reached the minimum retirement age as per the board charter.

"Mr Michael Joseph retires by Article 69 of the Company's Articles of Association and is not eligible for re-election having attained the maximum tenure under the board charter," said the airline.

Joseph, who also retired as the chairman of the board at Safaricom PLC in August 2023, was first appointed chairman and independent non-executive director of the KQ board in October 2016.

He was then re-elected to the position in June 2019 for a second term with a clear mandate to steer the airline's turnaround initiatives geared towards the continued improvement of the airline's financial performance.

He has been at the forefront in providing leadership at Kenya Airways, which has been on a loss-making streak for the last 10 years.

The losses were, however, reversed last year when the airline reported a net profit of KSh 5.4 billion for the financial year ending December 31, 2024, a turnaround from the KSh 22.7 billion loss recorded in 2023.

The airline's total income grew to KSh 188.5 billion, a 5.6% increase from the KSh 178.5 billion reported in 2023.

During the period under review, the airline's operating profit surged to KSh 16.6 billion, up from KSh 10.5 billion in 2023, as the airline successfully controlled its operating costs, which stood at KSh 171.9 billion, despite rising fuel prices and operational expenses by the carrier that flies more than 45 routes to date.

In other news, Kenya Airways on Friday, May 2, named its Boeing 737-800 Dreamliner plane after its Burundi station manager, Caroline Ndonga.

Ndonga's name emerged top among all other names that were fronted by the airline's customers in a mini poll.

She has worked with Kenya Airways in different roles, including as the supervisor of operations in Kisumu county.

Source: TUKO.co.ke