Kenya Airways more than halves net loss to Sh15.88bn

A Kenya Airways aircraft at JKIA. FILE PHOTO | NMG

By CONSTANT MUNDA
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Summary

• The national carrier reported Tuesday net loss dropped 56.58 percent to Sh15.88 billion compared with a record loss of Sh36.57 billion a year earlier when Covid restrictions hit its operations, including grounding of its plane for months.
• Total income jumped 32.98 percent to Sh70.22 billion, KQ said in a financial statement, while operating costs fell 3.62 percent to Sh77.02 billion.

Kenya Airways #ticker:KQ net loss for the year ended December 2021 more than halved on the back of increased revenue on domestic and regional routes amid a tight lid on operating costs.

The national carrier reported Tuesday net loss dropped 56.58 percent to Sh15.88 billion compared with a record loss of Sh36.57 billion a year earlier when Covid restrictions hit its operations, including grounding of its plane for months.

Total income jumped 32.98 percent to Sh70.22 billion, KQ said in a financial statement, while operating costs fell 3.62 percent to Sh77.02 billion.

“Kenya Airways took advantage of the lockdown period to restructure and transform our operations and products,” KQ chairman Michael Joseph said in a statement.

“We have seen some good recovery in our domestic, regional and selected international routes.”