News
Kenya Airways Has Lost Sh1B To Coronavirus, CEO
NAIROBI (Reuters) – Kenya Airways has lost an estimated $100 million in revenue as a result of the coronavirus pandemic and related lockdowns, CEO Allan Kilavuka told reporters on Friday.
“We don’t have the full picture of how much we have lost but our estimate is since January to date we have probably lost in terms of revenue around about $100 million,” Kilavuka said.
“When we estimate till the end of the year we think we will lose probably between $400 and $500 million,” he said.
The coronavirus crisis has hit the global aviation industry hard, but Kenya Airways was struggling long before the outbreak.
The government has been working on a plan to renationalise the airline, which is one of the biggest on the continent, to save it from mounting debts that had been restructured in 2017 in an attempt to save the business.
The pandemic-led crisis has delayed that process but it is still ongoing, chairman Michael Joseph said on Friday.
“It has just delayed it by a few months. We wanted to be completed in August, we probably we will complete now a little bit later than that,” he told reporters.
Kenya Insights allows guest blogging, if you want to be published on Kenya’s most authoritative and accurate blog, have an expose, news TIPS, story angles, human interest stories, drop us an email on [email protected] or via Telegram
FLYING ON BORROWED TIME: Safarilink’s Decade of Incidents Puts Kenya’s Safari Skies on Trial
How Kenya Is Harvesting a Windfall From the Ruins of the US-Israeli War on Iran
DCI Probe Reveals How Conrad Law Advocates Was Used To Funnel Stolen Millions In Fake Ambulance Deal
Allan Chesang Caught on Another Con Game? After Laptop Scamming, Now Fake Ambulance Fraud Hits
DARFUR SULTAN CAUGHT ON TAPE: War-Linked Figure Runs Red Lights in Nairobi With Impunity
How EADB Threw Tuju Under The Bus
CAF Champions League quarter-final second legs with AfroPari: the moment that decides everything
Dubai-Bound Ships Storm Kenya’s Ports as Iran Locks Down the Persian Gulf
World Bank Bans 3 PwC African Subsidiaries
THE RUTO HAND IN TUJU’S FALL: How a President-Linked Petroleum Baron Walked Away With Sh3.5 Billion Karen Land for Sh450 Million
Kenya Strips Dutch Climate Body of Diplomatic Immunity Amid Donor Fraud Scandal and Allegations of Executive Capture
How Little-Known Pesa Print, Linked to State House Tycoons, Won NTSA Tender Worth Sh42 Billion in Traffic Fines
Ex-Inchcape Kenya CEO Sanjiv Shah Charged With Bank Fraud
A UN Director Based in Nairobi Was Deep in an Intimate Friendship With Epstein — He Even Sent Her a Sex Toy
Waweru’s Bank Pockets Sh1.16 Billion from KPC IPO While Ordinary Kenyans Fled the Sale
Tuju Forcefully Removed From His Karen Property With Masked Officers In Unmarked Vehicles In Early Morning Raid
Named: Havi Says Mutava Confessed He Was Collecting The Bribe For Lady Justice Josephine Mongare, So Why Is JSC Still Silence?
The Man With The Golden Pen: How NLC’s Joel Ombati Is Accused Of Masterminding Kenya’s Biggest Infrastructure Land Heist
Talanta Stadium Construction Cost Inflated By Sh11 Billion, Audit Reveals
The New Master of the Nation: How a Tanzanian Billionaire With a President in His Pocket Just Bought Kenya’s Most Powerful Press
-
Investigations2 weeks agoHow Little-Known Pesa Print, Linked to State House Tycoons, Won NTSA Tender Worth Sh42 Billion in Traffic Fines
-
Business2 weeks agoWaweru’s Bank Pockets Sh1.16 Billion from KPC IPO While Ordinary Kenyans Fled the Sale
-
News1 week agoTuju Forcefully Removed From His Karen Property With Masked Officers In Unmarked Vehicles In Early Morning Raid
-
News1 week agoNamed: Havi Says Mutava Confessed He Was Collecting The Bribe For Lady Justice Josephine Mongare, So Why Is JSC Still Silence?
-
Investigations2 weeks agoThe Man With The Golden Pen: How NLC’s Joel Ombati Is Accused Of Masterminding Kenya’s Biggest Infrastructure Land Heist
-
Business2 weeks agoThe New Master of the Nation: How a Tanzanian Billionaire With a President in His Pocket Just Bought Kenya’s Most Powerful Press
-
Investigations2 weeks agoSOLD TO THE BULLET: How the Bodyguard Handed MP Ong’ondo Were to His Killers
-
Development2 weeks agoKPA To Be Dissolved, Replaced By A Liability Firm As Govt Sets To Privatise Lamu Port And Two Mombasa Berths