Kenya Airways has made public its performance for the six month period ended 30th June 2018. Bottom line, the airline posted a loss before tax of Sh 4.035 Billion compared to Sh 5.6 Billion posted in a similar period last year.
The airline’s total revenue increased slightly to Sh 52.1 Billion from Sh 50.6 Billion posted in the same period in 2017. Total operating expenses grew by about Sh 2.0 billion to Sh 53.2 Billion.
The airline’s CEO Sebastian Mikosz noted that the increase in operating costs (14%) was mainly as a result of increased pressure on global fuel prices.
“When I joined Kenya Airways oil was $52, now it is 76. So the board has approved a new hedging strategy.” Sebastian Mikosz.
From an operating perspective, passenger numbers during the period increased by 6.6% to Sh 2.3 Million while 31,973 tonnes of cargo were transported. Cabin factor increased by 2.8 points to 75.9%.
The CEO also noted that they will be flying to two new destinations in 2019.