Kenya Airways weathers Covid storm, trims loss to Sh16 billion
National flag carrier Kenya Airways (KQ) has cut its full 2021 net loss by 56 percent to Kee15.9 billion from Kes36.2 billion on lower costs.
Company CEO Allan Kilavuka said KQ saw increased revenue on domestic and regional routes in a year with 2.2 million travelers using the airline compared to 1.8 million in 2020.
“In 2021 we still felt the impact of the COVID-19 pandemic but still increased our capacity by 11.5 percent,” said Chairman Michael Joseph.
“There is definitely and improvement in 2021 than in 2020 but we are not where we ought to be compared to 2019 which is our base year,” added Mr Kilavuka.
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In the year, the cargo handled by the national carrier increased to 63,726 tonnes from 49,418 tonnes transacted in 2020.
Fresh flowers, meat exports, electronic consumer goods, and machinery form the bulk of goods shipped by the airline’s cargo business.
South African Airways (SAA) and KQ are preparing to enter into a formal partnership that will give rise to a new Pan-African airline.
“The aim for our partnership with SAA is to co-create a formidable aviation Group,” explained Mr Kilavuka.
In the year, the firm’s total income jumped 32.98 percent to Kes70.22 billion, KQ said in a financial statement, while operating costs fell 3.62 percent to Kes77.02 billion.
