Restructuring: Kenya Airways Narrows Operating Loss
Kenya Airways has reported a net loss of Sh 3.8 Billion ($36.7 Million) for half year period ended 30th September representing a declined by 20.2% from a loss of Sh 4.7 Billion ($45.4 Million) posted in the same period last year.
According to reports by Red Pepper, the airline’s revenue was unchanged at Sh 54.5 Billion same as operating costs which were at Sh 53 Billion. Operating profit increased by 52.1% to Sh 1.4 Billion.
In the same period last year, pre-tax loss was at Sh 3.8 billion compared to a loss before tax of Sh 4.7 Billion. The airline’s cabin factor was up 5.4% to 76.9%, while the number of passengers grew by 3.3% to 2.3 million.
Last week, Nairobi Securities Exchange suspended trading on the airline’s shares for two weeks starting 15th November 2017 to facilitate the share split and simultaneous consolidation of the company’s shares which forms part of the Kenya Airways PLC capital transaction.