Kenya Airways narrows pre-tax loss to Sh4.86b

A new Kenya Airways aircraft E-190 Embraer from Brazil arrives at Jomo Kenyatta International Airport, Nairobi on June 1, 2011. Photo | FILE 

In Summary

• Revenues up 7 per cent and operating costs lower as pre-tax loss narrows to Sh4.86 billion.
• Airline was looking to rebound from pre-tax loss of Sh10.8 billion ($125 million) for previous year.

By BD TEAM
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Rising revenues and falling costs have seen Kenya Airways cut its losses before tax by more than half for the full year ended March 2014.

The airline saw revenues rise seven per cent and reported a pre-tax loss of Sh4.86 billion ($55.5 million). 

 

This is a significant rebound from the Sh10.8 billion ($125 million) pre-tax loss for the previous year.

Mr Alex Mbugua, the airline's Finance Director, said total revenue had increased to Sh106 billion during the year, mainly due to higher yields from the passenger business.

Direct operating costs fell by two per cent driven mainly by savings of Sh1.5 billion from favourable oil prices and efficient consumption.

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