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Kenya Airways Records Revenues Worth 110 Billion

BY · September 2, 2015 12:09 pm

Kenya Airways, popularly known as the Pride of Africa recorded revenues of 110 billion shillings for the year ended 31st March 2015, an increase of four percent from last year despite the fall in gross profits.

During this period also, the number of passengers the Pride of Africa served jumped by 500,000 to 4.2 million.

During the same period, available seat kilometers rose by 8.6 percent to 15406 million with an uptake capacity of 5.2 percent while at the same time the capacity available to Europe grew by 13 percent as a result of the deployment of the larger B777-300R on the Amsterdam route as well as the introduction of the Dreamliner on the Paris service.

Kenya Airways saw its services in the Middle East and the Far East expanding at a capacity of nine percent while the total capacity offered within Africa rose by 3.6 percent and this was as a result of frequencies, even with the suspensions of flights to West Africa as well as to South Sudan.

Following the entry of Kenya Airway’s low-cost carrier Jumbo Jet, the domestic market rose a huge 24 percent.

During this period, Kenya Airways also successfully completed the first phase of its fleet renewal programme which also saw the acquisitions of five B787 Dreamliner, two B777-300S and three B737NGs.

Direct operating costs remained static at 76.1 billion despite the increase in capacity and this was mainly driven by savings in the fuel costs.

To better Kenya Airways, the company has reached an agreement with Afrexim Bank to act as a financial advisor and to provide 200 million US Dollars as a bridging loan as well as accelerating revenue generation action plan.

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