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Kenya Airways Net Loss Narrows to KSh15.8 Billion in Fiscal Year 2021

The airline had posted a net loss of Kh36.2 billion for the corresponding period of the previous fiscal, KQ said in a regulatory filing.

Kenya Airways Chairman Michael Joseph

Kenya Airways on Tuesday reported narrowing of its consolidated net loss to KSh15.8 billion for the year ended December 31, 2021. 

The airline had posted a net loss of Kh36.2 billion for the corresponding period of the previous fiscal, KQ said in a regulatory filing.

Consolidated revenue for the period stood at KSh70.22 billion.

“Kenya Airways took advantage of the lockdown period to restructure and transform our operations and products. We have seen some good recovery on our domestic, regional, and selected international routes,” KQ chairman Michael Joseph said in an emailed statement.

“Following the worst year on record for the aviation industry [2020], the industry is seeing strong signs of recovery, particularly in US domestic travel and the more moderate recovery in international travel,” Mr. Joseph said.

The airline’s shares remain suspended on the Nairobi Securities Exchange  as “operational and corporate restructure is still ongoing and the government is expected to give a clear direction on its buy-out or bail-out.”

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Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.

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