Kenya Airways reports half year net loss of Ksh. 4 billion
KQ Chairman Michael Joseph at the HY2018 Results Announcement 2
Kenya Airways has today announced that their net loss for the half year ended June 30 2018 has reduced to Ksh. 4.035 billion from 5.668 billion in 2017.
Total income improved to Ksh. 52.193 billion from Ksh. 50.601 billion in the same period in 2017. Operating expenses increased to Ksh. 53.218 billion from 51,333 billion in 2017. The company attributed the increases in expenses to a rise in global fuel prices.
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Passenger numbers increased by 6.6 percent to 2.3 million, while cargo increased by 13 percent to 31,973 tonnes as compared to the same period last year.
During the period, Kenya Airways launched flights to Mauritius and non-stop flights to Cape Town, South Africa. The airline is in final preparations for its maiden non-stop flights to New York on October 28, 2018. The CEO Sebastian Mikosz also announced that the carrier will be flying to two new destinations in 2019.