Kenya Airways HY Net Loss Narrows to Ksh 11.5Bn; Revenue Declines 9%

Kenya Airways narrowed its net loss by 20 per cent to Ksh 11.5 billion in the first half FY 2022

Kenya Airways Carg Planes /KQ

Kenya Airways narrowed its net loss by 20 per cent to Ksh 11.5 billion in the first half of FY 2022 on a year on year basis on account of lower exceptional expenses and higher cargo volumes.

During the period, passenger revenue declined by 17 per cent to KSh 20.2 Billion, Cargo revenues increased by 60 per cent due to a strong focus on freight operations.

It reported a decline of 10 per cent in total operating costs, with direct operating costs declining by 13 per cent.

The Airline recorded an operating loss margin from KSh 8.4 Billion to KSh 7.3 Billion.

The airline’s operations were severely impacted by the COVID-19 crisis during the first half of 2021.

“This is due to difficulties in controlling the virus variants, slow vaccination uptake in some of our key markets, travel restrictions and lockdowns,” said Michael Joseph, KQ Board Chairman.Kenya Airways HY loss before tax at Ksh 11.5 billion (loss for HY2020 was Ksh 14.4 billion)