Ruto’s Multi-Billion Helicopter Business

The cost of hiring a helicopter has been rising in tandem with fuel prices over the past year.
The cost of hiring a helicopter has been rising in tandem with fuel prices over the past year. [Photo/ NMG]

Kwae Island Development Limited (KIDL), a Nairobi-based company associated with President William Ruto, operates his helicopter business. Headquartered at Wilson Airport, KIDL owns two hangars and five helicopters.

The helicopters are valued at around Ksh2.6 billion according to a 2021 report. The company was among assets identified by former Interior Cabinet Secretary Fred Matiang’i as being among Ruto’s properties.

Ruto is also a player in several other industries including hospitality, agriculture and real estate.

Besides playing a key role in advancing political campaigns and activities, the helicopters are leased out generating further income. The cost of hiring a helicopter has been rising in tandem with fuel prices over the past year.

READ>List Of Kenyans Who Own Helicopters And The Cost Of Hiring One

The cost of jet fuel increased to over Ksh136 a litre in June 2022 from Ksh100 in January of the same year, resulting in aviation firms charging higher leasing fees. Tropic Air increased its charges to $2,800 (Sh332,248) per hour to lease a five-seater chopper, up from $2,500 (Sh296,650) per hour in March last year, representing a 12 percent increase. Bella Aviation raised its  charges to $2,100 (Sh248,745) per hour for a five-seater chopper up from $1,800 (Ksh213,210) in March 2022, representing a 17 percent increase.

The political campaigns in the past year also helped drive demand for choppers. Other politicians who operate chopper hire businesses include Prime Cabinet Secretary Musalia Mudavadi.

READ>Mudavadi’s Nairobi Apartments, Offices Minting Millions

Ruto’s KIDL owns different Airbus and Eurocopter models purchased  for between Ksh290 million and Ksh970 million. They are;

  1. 5Y KDM,  Airbus H145 T2 purchased for Ksh970 million

2. 5Y DSC, Eurocopter 130 T2 purchased for Ksh740 million

3. 5Y KDN, Airbus H130 valued at  Ksh330 million 

4. 5Y DSN, Airbus H125 valued at Ksh290 million

5. 5Y SAK, Airbus H125 valued at Ksh290 million

NEXT>Zimele: David Ndii’s Multi-Million Wealth Management Business

 

Picture of BUSINESS TODAY
BUSINESS TODAY
editor [at] businesstoday.co.ke

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Novotel, one of Accor’s flagship brands and a champion of balanced living has opened Novotel Nairobi Westlands, Kenya. Situated in the vibrant

Elon Musk’s Starlink terminals sold out in Kenya’s capital of Nairobi, less than two months after the company introduced a rental option

Former Nation Media Group (NMG) CEO Joe Muganda has returned to the leading media house in a different capacity: as a director.

Samuel Wachenje and Hendrick Nyongesa Pilisi, former employees of the National Youth Service (NYS), have been convicted of multiple charges of fraud