Kenya Airways’ Loss Widens to 7.59 Billion Shillings
Hopes of having Kenya Airways back into the profit-making circle seem to remain an illusion after the vibrant Pride of Africa registered a pretax loss of 7.59 billion shillings for the 2018 financial year.
The current loss is higher than what was registered in 2017 at the same period at 6.4 billion shillings. The airline has attributed the rising loss to a surge in operating costs.
Kenya Airways has been going through a financial turmoil with its efforts to take over the Kenya Airports Authority (KAA) to help leverage its financial presence being rejected.
During the year under review, revenue grew by 41.3 percent on a year-to-year basis to 114.2 million shillings as a result of the increased number of passengers by 41.1 percent to 48.4 million.
The airline says it witnessed an increase in cargo revenue by 52.3 percent on a year-to-year basis to 8.68 billion shillings boosted by an uptick in total revenue.
The operating costs went up by 44.0 percent to 114.8 million shillings mainly from increased fuel costs by 73.6 percent to 33.0 billion shillings.
Kenya Airways has also attributed its massive loss to the fleet ownership costs that shot up by 51.2 percent to 18.9 billion shillings.
More Articles From This Author
Trending Stories
Other Related Articles
-
Accountants and Auditors
Banks
Business Consultants
Clearing and Forwarding
Co-operative Movement
Financial and Tax Consultants
Forex Bureaus
Insurance
Investment Banks
Real Estate
Retail Industry
Small and Medium Enterprises
Stock Brokers
- 2022
- January 2022 (294)
- February 2022 (329)
- March 2022 (361)
- April 2022 (294)
- May 2022 (137)
- 2021
- January 2021 (182)
- February 2021 (227)
- March 2021 (325)
- April 2021 (259)
- May 2021 (285)
- June 2021 (273)
- July 2021 (277)
- August 2021 (232)
- September 2021 (271)
- October 2021 (305)
- November 2021 (364)
- December 2021 (250)
- 2020
- January 2020 (272)
- February 2020 (310)
- March 2020 (390)
- April 2020 (321)
- May 2020 (335)
- June 2020 (327)
- July 2020 (333)
- August 2020 (276)
- September 2020 (214)
- October 2020 (233)
- November 2020 (242)
- December 2020 (187)
- 2019
- January 2019 (251)
- February 2019 (215)
- March 2019 (283)
- April 2019 (254)
- May 2019 (269)
- June 2019 (250)
- July 2019 (337)
- August 2019 (293)
- September 2019 (306)
- October 2019 (313)
- November 2019 (362)
- December 2019 (318)
- 2018
- January 2018 (291)
- February 2018 (213)
- March 2018 (275)
- April 2018 (223)
- May 2018 (235)
- June 2018 (176)
- July 2018 (256)
- August 2018 (247)
- September 2018 (255)
- October 2018 (282)
- November 2018 (282)
- December 2018 (184)
- 2017
- January 2017 (183)
- February 2017 (194)
- March 2017 (207)
- April 2017 (104)
- May 2017 (169)
- June 2017 (205)
- July 2017 (190)
- August 2017 (195)
- September 2017 (186)
- October 2017 (235)
- November 2017 (253)
- December 2017 (266)
- 2016
- January 2016 (164)
- February 2016 (165)
- March 2016 (190)
- April 2016 (143)
- May 2016 (245)
- June 2016 (182)
- July 2016 (271)
- August 2016 (247)
- September 2016 (233)
- October 2016 (191)
- November 2016 (243)
- December 2016 (153)
- 2015
- January 2015 (1)
- February 2015 (4)
- March 2015 (164)
- April 2015 (107)
- May 2015 (116)
- June 2015 (119)
- July 2015 (147)
- August 2015 (157)
- September 2015 (186)
- October 2015 (169)
- November 2015 (173)
- December 2015 (205)
- 2014
- March 2014 (2)
- 2013
- March 2013 (10)
- June 2013 (1)
- 2012
- March 2012 (7)
- April 2012 (15)
- May 2012 (1)
- July 2012 (1)
- August 2012 (4)
- October 2012 (2)
- November 2012 (2)
- December 2012 (1)
- 2011
- 2010
- 2009
- 2008
- 2007
- 2006
- 2005
- 2004
- 2003
- 2002
- 2001
- 2000
- 1999
- 1998
- 1997
- 1996
- 1995
- 1994
- 1993
- 1992
- 1991
- 1990
- 1989
- 1988
- 1987
- 1986
- 1985
- 1984
- 1983
- 1982
- 1981
- 1980
- 1979
- 1978
- 1977
- 1976
- 1975
- 1974
- 1973
- 1972
- 1971
- 1970
- 1969
- 1968
- 1967
- 1966
- 1965
- 1964
- 1963
- 1962
- 1961
- 1960
- 1959
- 1958
- 1957
- 1956
- 1955
- 1954
- 1953
- 1952
- 1951
- 1950