Kenya Airways boosted revenues and cut losses during the first half of this year
Kenya Airways, the national flag carrier of the East African country, released its results for the first half of this year (1H22) on Wednesday. It had accrued total revenues of 48.104-billion Kenya shillings (Kshs) in the period under review. (This figure comes to a little more than $401-million.) This represented a 76% increase over the revenues accrued during the same period last year (1H21).
The operating loss in 1H22 was Kshs5-billion ($41.7-million). This was 31.5% down on the operating loss of Kshs7.3-billion ($609-million) recorded in 1H21.
The airline carried 1.61-million passengers during 1H22, which was 85% higher than the figure of 0.87 achieved during 1H21. However, passenger revenues in 1H22 were 109% higher than during the equivalent period last year. These surges in passenger numbers and revenues were the result of the removal of travel restrictions in various markets and the release of pent-up travel demand. Nevertheless, passenger numbers in 1H22 were still 33% below those reached during the same period of 2019, the last pre-Covid-19-pandemic year.
Cargo tonnage flown by the airline in 1H22 was 39% higher than in 1H21. However, cargo revenues increased by only 18% over the same period.
“The opening of borders worldwide has led to quick rebounds in some key markets,” highlighted Kenya Airways board chairperson Michael Joseph. “Lingering travel restrictions in some markets have limited the recovery. It is also important to note that these results were further affected by the high price of aviation fuel which is over 65% more than last year. If we adjusted for the fuel price spike, the operating profit for the period would have been Kshs1.5-b[illion]."
“Our focus is to ensure that we strengthen our operational resilience through innovation and diversification to deliver great and reliable services to our customers,” affirmed Kenya Airways Group MD and CEO Allan Kilavuka. “We have transformed the airline during the pandemic, enabling us to emerge with renewed strength, underpinned by a product, network and service that customers value.”
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation