Kenya’s troubled airline has reported yet another loss in the first half of 2019. The airline’s net loss increased to KSh8.5 billion, up from KSh4 billion recorded in the first six months of 2018.
While its revenues (KSh58 billion) grew by 12 per cent compared to the same period in 2018, operating expenses went up by 15 per cent to KSh61 billion.
Flight delays and cancellations are said to drive up KQ’s expenses, therefore, eating into the company’s earnings.
The airline currently has a negative equity position of KSh 16 billion, an increase from a negative equity KSh2.5 billion on 30th June 2018.
Flight delays bleeding Kenya Airways’ revenues