Business
Kenya Airways Record First Profit In 7 Years

One of Africa’s three biggest carriers, Kenya Airways slid into insolvency in 2018 after an expansion drive left it with hundreds of millions of dollars in debt.
Last year’s operating profit was the airline’s first since 2017, it said, buoyed by a 53% increase in revenue to 178.5 billion shillings.
“It is an indication that we are well on our path to recovery,” CEO Allan Kilavuka told an investor briefing.
The revenue growth was underpinned by a 35% increase in passenger numbers, he said, adding that it will increase flights on popular routes such as Nairobi to London and secure new planes to take advantage of that momentum in demand.
The airline expects to receive an additional cargo freighter soon and it will receive another Boeing 737-800 passenger jet by the third quarter of this year to boost capacity, Kilavuka said.
Revenue from the airline’s cargo business was down for the year, in line with the global trend, he said.
Kenya Airways posted a pretax loss, however, as a steep weakening of the Kenyan shilling led to loan revaluation losses.
The shilling has started to strengthen against the dollar, meaning the outlook for this year is more positive, Kilavuka said.
“The FX situation is improving … We do expect this will work in our favour this year,” he said, adding that it would help the company to attain bottom line profitability.
($1 = 131.0000 Kenyan shillings)
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
-
News4 days ago
Plane Carrying Raila Odinga Becomes World’s Most Tracked Flight as Kenya Airways Honors Him With Special Call Sign ‘RAO001’
-
News1 week ago
Former Nairobi CEC Newton Munene Found Dead as Sonko Alleges Cartel Involvement
-
News4 days ago
I Used To Sleep Hungry, But Today I Employ The Same People Who Once Laughed At My Poverty
-
Investigations4 days ago
Kwale Sugar Faces Liquidation Guillotine as Supreme Court Slams Door on Last-Ditch Rescue Bid
-
News6 days ago
Inside 17 Minutes: CCTV Footage Reveals Murdered State House Guard Was Well Known to The Killer
-
News3 days ago
Maurice Ogeta, Raila’s Bodyguard: The Shadow Who Became The Story
-
News1 week ago
Four Arrested In JKIA Cocaine Cartel Crackdown
-
News6 days ago
Court Fines Orengo’s Law Firm For Wrongful Dismissal of Lawyer