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Kenya Airways Dusts Off Expansion Dream With 10 Boeing Plan

  • Airline has cut fleet size by 15% during past two years
  • Carrier in recovery after losses brought on by rapid growth
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Photographer: Suzanne Plunkett/AFP via Getty Images

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Kenya Airways Plc revived long-shelved plans to expand its network by proposing to buy as many as 10 Boeing Co. 737 Max aircraft as part of a five-year strategy.

The move follows three consecutive years of losses caused by a poorly executed expansion strategy and fuel-hedging contracts that saw it miss out on rock-bottom oil prices. The losses forced the company into austerity measures that included job cuts, a 15 percent fleet reduction and the abandonment of an expensive but valuable landing slot at London’s Heathrow airport.