Kenya’s flag carrier, Kenya Airways has flown back to the loss making territory after posting half year loss after tax of Ksh 12.1 billion compared to Ksh 513 million profit posted over the same period last year.
The 2469pc decline in profitability was dragged by lower passenger number during the period to June this year. The airline saw passenger passengers number reduce by 14 pc to 2.2 million compared to 2.54 million posted over the same period last year.
The reduced passenger numbers meant the airline booked lower capacity as available seat kilometers decreased by 16pc to Ksh 6.72 billion, compared to Ksh 7.99 billion reported last year.
As a result, KQ total revenue during the period under review went down by 19pc to Ksh 74.5 from Ksh 91.5 billion reported over the same period last year.
Going into the second half of the year, Kenya Airways targets to address capacity constraints affecting aircrafts and engines and address operational stability and efficiency to sustain growth.
