The ailing Kenya Airways seems to be falling into an ending financial hole with each passing day, registering a whopping loss of 36.57 billion shillings for the 2020 financial year. As the days pass, the airline continues to become a shell flying on the empty.
According to CEO Allan Kilavuka, Kenya Airway’s passengers dropped significantly during the year under review to 1.8 million compared to 5.2 million in 2019, hitting hard on its revenue income. This was occasioned by the Covid-19 pandemic.
The drop in passenger volumes saw the total turnover shrink by 60 percent to 52 billion shillings. Cargo volumes also went down during the period, as the carrier grounded some flights, leading to reduced belly space. Kenya Airways’s basic loss per share jumped to 6.22 shillings in 2020 from 2.23 shillings in the prior year.
Will Kenya Airways ever rise above the skies and roar into profitability like it was before?
Read More:
- Kenya Airways Resumes Direct Weekly Cargo Flights to New Delhi
- Kenya Airways To Resume Flights To Rome In June
In February, the national carrier, Kenya Airways (KQ), freight division KQ Cargo, has announced the resumption of its cargo services to New Delhi. The first cargo flight to resume from New Delhi landed at Jomo Kenyatta International Airport (JKIA), on 21st February 2021, carrying pharmaceuticals, machinery, and general merchandise from New Delhi.