Kenya Airways fails to pay dividend

Victoria
By Victoria June 17, 2013 15:10

Kenya Airways fails to pay dividend

 

Kenya Airways has failed to pay dividend for the first time in 14 years after reporting the biggest loss in the history of companies listed at the Nairobi Securities Exchange (NSE).

The carrier posted a loss of Sh7.86 billion in the year to March compared to a profit of Sh1.66 billion last year , which was a 57% drop from the 2011 numbers.

The fall was blamed on the eurozone debt crisis, fears of unrest during Kenya’s March elections and a gun and grenade attacks following Kenya’s pursuit of militants into Somalia.

Revenues dropped by Sh9 billion to Sh98.8 billion on a drop in passenger traffic. Passenger traffic dropped 3.6% to 9.5 million.

Victoria
By Victoria June 17, 2013 15:10
No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Only <a href="http://www.aviationnews-online.com/wp-login.php?redirect_to=http%3A%2F%2Fwww.aviationnews-online.com%2Fairline%2Fkenya-airways-fails-to-pay-dividend%2F"> registered </a> users can comment.