National carrier Kenya Airways has announced that it has reported a Ksh. 8.5 billion net loss for the half year ended on 30th June 2019. The airline reported a Ksh. 3.9 billion loss in the same period in 2018.
The airline attributes the loss to increased costs from new routes and frequencies of flights, and the return of B787 into KQ Service and lease costs.
Total revenue for the Kenyan airline increased to Ksh. 58 billion in 2019 from 52 billion in the same period in 2018. Total operating costs rose to Ksh. 61 billion from Ksh 53 billion in 2018. Financial costs rose to Ksh. 5.2 billion from Ksh. 2.9 billion in the same period in 2018.
The airline has been going through tough times for a while and things don’t seem to be looking up. Kenya Airways reported a loss of Ksh. 7.59 Billion for the full year 2018. This is against a loss of Ksh. 6.41 Billion that was reported for the full year 2017.