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Kenya Airways (KQ) has recorded a 12.4% increase in revenue for the year ended December 31, 2019, from Kshs 114,185 million in 2018 to Kshs. 128,317 million.
The positive performance has been attributed to the expansion of the network, improved passenger, cargo, ancillaries, and other revenue streams.
In the year under review, the airline invested in new routes by introducing Geneva, Rome and Malindi to the network. This investment in new strategic routes contributed a 6.7% increase in passenger numbers to hit a record 5.1 million passengers.
The Cargo loads grew by 6.3% from an uplift of 64,238 tonnes the previous year to 68,264 tonnes and a positive contribution to the bottom line of Kshs 0.2b.
During the period, KQ brought back two Boeing 787-8 Dreamliners that had been previously sub-leased to Oman Air to support the new routes as part of the network optimization. This led to Available Seat Kilometres (ASKs) increase by 15%.
Expenses resulting from the opening of new routes saw direct operating costs go up by 7.9%, from Kshs 75 billion to Kshs 80.9 billion. The return of the 2 wide bodies contributed to increased fleet costs and a reduction in the previously collected lease fees.
Expenses resulting from the opening of new routes saw direct operating costs go up by 7.9%, from Kshs 75 billion to Kshs 80.9 billion. The return of the 2 wide bodies contributed to increased fleet costs and a reduction in the previously collected lease fees.
Despite the increased flight frequency, KQ maintained low fuel costs. The fuel costs during the year in review stood at Kshs 33.2 billion, a marginal 0.4 % increase from Kshs 33 billion incurred during the same period last year.
Total costs in the year increased 16%, given the investments in new routes, the return of the two wide body aircraft, and the adoption of the new accounting standards IFRS 16. The Group posted a loss before tax of Kshs 12.975 billion.
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Wow! Stunning! Hilton seems to be taking Africa by storm. Just a couple of years back, they opened the first ever in Eswatini.
Wonderful event and topics discussed, hopefully we see the manifestations in our African airline businesses in the nearest future. Kudos to you all.
Hi, I'm Lucy. Please how do I embark on my travel/ tour business. I am newbie and help..
Prices in the Sol Torremolinos Don Pablo are the same than two weeks ago.
Good location astounding but the staffs are rude and they make me wait so long for the service. They charge me more than what is on the website and did not refund me the manager is not helping with the issue
WoW. Amazing Review. 👍
I spent the holidays here, I don't know why but during the holidays their reception smells like a piss Id rather not spend my special occasions here
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