Kenya Airways half-year loss more than doubles
Kenya Airways has disclosed that its pre-tax loss for the 6 months ended June 30 rose to KSh8.56b (US$82.8m) from KSh3.9b in the same period of 2018. The troubled carrier's operating loss surged to KSh2.9b from KSh1.03b. Passenger numbers rose 6% as the airline grew its available seat-kilometres 17%, expanding capacity to New York and several locations in East Africa. While this boosted revenues by 12%, to KSh58.5b, it pushed costs up 15% to KSh61.5b. Kenya Airways has struggled to turn a profit while burdened by a $220m debt pile. Earlier in the year, the Kenyan govt voted in favour of nationalising the airline as part of a rescue operation, and is now in the process of buying out minority shareholders. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-08-29/sky/kenya-airways-half-year-loss-more-than-doubles
https://portal.staralliance.com/cms/logo.png
Kenya Airways half-year loss more than doubles
Kenya Airways has disclosed that its pre-tax loss for the 6 months ended June 30 rose to KSh8.56b (US$82.8m) from KSh3.9b in the same period of 2018. The troubled carrier's operating loss surged to KSh2.9b from KSh1.03b. Passenger numbers rose 6% as the airline grew its available seat-kilometres 17%, expanding capacity to New York and several locations in East Africa. While this boosted revenues by 12%, to KSh58.5b, it pushed costs up 15% to KSh61.5b. Kenya Airways has struggled to turn a profit while burdened by a $220m debt pile. Earlier in the year, the Kenyan govt voted in favour of nationalising the airline as part of a rescue operation, and is now in the process of buying out minority shareholders. <br/>
