Kenya Airways cuts first half losses
Kenya Airways reduced its first half pre-tax loss to KES4.73b (US$46.64m), down from KES11.856b, on increased passenger numbers and lower costs. Total revenue for the 6 months to Sept 30 was KES54.75b, down from the KES56.72b reported last year. Operating costs were down to KES53.8b from KES58.896b. The airline said its Operation Pride turnaround strategy continues to be its main focus. As part of the strategy the airline wants to close the profitability gap, refocus the business model on Africa, and achieve financial stability. One initiative of Operation Pride is a fleet reduction programme, with 7 fewer wide-body aircraft in the fleet helping reduce ownership costs by 35%. “We now operate a leaner but efficient airline,” Kenya Airways CE Mbuvi Ngunze said. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-10-28/sky/kenya-airways-cuts-first-half-losses
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Kenya Airways cuts first half losses
Kenya Airways reduced its first half pre-tax loss to KES4.73b (US$46.64m), down from KES11.856b, on increased passenger numbers and lower costs. Total revenue for the 6 months to Sept 30 was KES54.75b, down from the KES56.72b reported last year. Operating costs were down to KES53.8b from KES58.896b. The airline said its Operation Pride turnaround strategy continues to be its main focus. As part of the strategy the airline wants to close the profitability gap, refocus the business model on Africa, and achieve financial stability. One initiative of Operation Pride is a fleet reduction programme, with 7 fewer wide-body aircraft in the fleet helping reduce ownership costs by 35%. “We now operate a leaner but efficient airline,” Kenya Airways CE Mbuvi Ngunze said. <br/>
