Loss reported by Kenya Airways

Eleanor Steed
By Eleanor Steed October 31, 2016 09:12

Loss reported by Kenya Airways

Kenya Airways has recorded a first-half net loss of KSh4.8 billion ($47 million), narrowed from a loss of KSh12 billion in the same period last year. It made the loss on slightly lower turnover of KSh54.7 billion, compared to KSh56.7 billion a year ago.

Utilization is increasing which is good sign. Seven aircraft have been removed from service and the remaining fleet flew 9% more hours compared to the same period last year. Cargo revenue fell 20.9% but much of this is due to the widebody aircraft leaving the fleet.

First half 2016 passenger numbers fell 4.2% to 2.2 million year on year and load factor was up 3.3% year on year to 71.5%. Yield was down 7% year on year. The airline posted a foreign exchange loss of KSh1.6 billion.

Eleanor Steed
By Eleanor Steed October 31, 2016 09:12