https://www.engineeringnews.co.za

Kenya Airways to restart hedging to counter oil price volatility

22nd June 2018

By: Reuters

  

Font size: - +

Kenya Airways' immediate biggest challenge is oil price volatility, and the airline will restart price hedging, its chief executive officer said on Friday.

"The volatility of the oil price has been really tremendous. Addressing this is of utmost concern," Sebastian Mikosz told a news conference after the company's annual meeting.

The airline had stopped fuel hedging after it was blamed for massive losses during the years the carrier went through a slump and a financial crisis.

Mikosz said they were already discussing with banks and trading houses to restart the hedging.

"We are in the technical phase of restarting it," he said.

In March, it reported a nine-month pretax loss of 5.97 billion shillings ($59 million) and an after tax loss of 6.1 billion shillings, hurt by a prolonged election period in the country and rising fuel prices.

Edited by Reuters

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (26/04/2024)
26th April 2024 By: Martin Creamer
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.078 0.13s - 174pq - 2rq
Subscribe Now