Business
Kenya Airways Made Sh36.5B Loss In 2020
Kenya Airways on Tuesday said its pretax loss for last year tripled to 36.57 billion shillings ($333.2 million) as the coronavirus crisis hit demand for travel.
The carrier, which is part owned by Air France KLM, said its revenue plunged by more than half during the period, as lockdown measures reduced passengers.
Cargo volumes also went down during the period, as the carrier grounded some flights, leading to reduced belly space.
The airline’s basic loss per share jumped to 6.22 shillings in 2020 from 2.23 shillings in the prior year, it said.
($1 = 109.7500 Kenyan shillings)
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