KQ losses dip further to Ksh12.99 billion
National carrier, Kenya Airways dipped further into a full year net loss of KSh. 12.985 billion compared in the year ending December 2019 compared to KSh. 7.558 billion reported in the previous year.
The airline blamed the loss on a 12.4 percent increase in operating costs, following an increase in its fleet operation costs.
This, the airline said was associated with a 15 percent increase in capacity deployed to offer increased connectivity between city pairs and investment in new routes.
Its total revenue increased by 12.4 percent to Kshs.128.317 billion in 2019 from Kshs.114.185 billion in 2018.
The growth was due to improved passenger, cargo, ancillaries, and other revenue streams, mainly due to expansion of the Kenya Airways network.
In the year under review, the Airline launched flights to Geneva, Rome, and Malindi.
This expansion resulted to a 6.7 percent increase in passenger numbers to hit record 5.1 million passengers.
Passenger revenue grew by 8.9 percent driven by route expansion. Cargo tonnage increased by 6.3 percent from 64,238 tonnes to 68,264 tonnes.