Kenya Airways Announces Improved Six Months Results

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Kenya Airways PLC has today announced a 30.8 percent improvement in pre-tax results for the six month period ended June 30, 2018. This improvement has been attributed to passenger numbers which increased by 6.6 percent to 2.3 million, while cargo uplift increased by 13 percent to 31,973 tonnes over the same period last year.

The cabin factor increased by 2.8 points to 75.9 percent. Revenue increased by 3.1 percent due to increased passenger traffic and overall yield improvement. The direct operating costs increased by 13.9 percent due to increased pressure on global fuel prices.

The fleet costs reduced by 2.2 percent attributed to the fleet rationalisation completed in November 2017.

Overall, the Group’s results improved by 30.8 percent from a pre-tax loss of Kshs 5,771 million in 2017 to Kshs 3,992 million for the period ended 30 June 2018.

“The business has remained resilient and is focused on delivering solid results. We continue to optimize the network to create more connections through our hub in Nairobi and in turn increase efficiency in order to reduce overall costs and return to profitability,” said Michael Joseph, Chairman Kenya Airways.

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