Looking back at this 5 years later it seems that I misread the man page.
With no options it is supposed to require a kernel image to load and
execute. If you just want to execute the already loaded image, you run
kexec -e.
** Changed in: kexec-tools (Ubuntu)
Status: Confirmed => Invalid
Confirmed in the version below:
kexec-tools 2.0.6 released 20 July 2017
ii kexec-tools 1:2.0.6-0ubuntu2.3
amd64tools to support fast kexec reboots
DISTRIB_DESCRIPTION="Ubuntu 14.04.5 LTS"
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Status changed to 'Confirmed' because the bug affects multiple users.
** Changed in: kexec-tools (Ubuntu)
Status: New => Confirmed
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https://bugs.launchpad.net/bugs/1103493
Title: